Investment product complaints comprise 2% of all complaints received by UK financial firms in H1 2018

Maria Nikolova

Complaints about investment products continue to have the lowest rate of being upheld by firms, the FCA data shows.

Complaints about investment products account for meager 2% of all complaint volumes in the first half of 2018, according to data released today by the UK Financial Conduct Authority (FCA).

This, however, is not the single piece of data provided by the UK regulator in this respect. Thus, the numbers show that redress paid per upheld complaint in the first six months of 2018 has fallen most significantly from the second half of 2017 for investments, PPI and banking and credit cards. For investments, the redress fell from £916 in the second half of 2017 to £710 in the first half of 2018.

Adding to the gloomy data about investment product complaints, the numbers for the first six months of this year show that, at the product group level, complaints about investment products continue to have the lowest rate of being upheld by firms. Only 51% of complaints were upheld in both the second half of 2017 and the first half of 2018.

Overall, complaints continued to increase for the fourth successive half year, reaching a new record level. A total of 3,161 firms received 4.13 million complaints during the first half of 2018. This was a 10% (360,108) increase compared with the previous 6-month period (the second half of 2017), when 3.77 million complaints were received. 98% of the 4.13 million complaints were made to 235 firms, which received 500 or more complaints each.

Excluding Payments Protection Insurance (PPI), complaints increased by 9% (193,360) from the previous 6-month period.

Let’s recall that, a year ago, the FCA reported that 3,471 complaints concerning FX/CFD/Spreadbetting were opened in the first half of 2017. They accounted for 5% of the total number of complaints filed by clients of investment firms. The data provided by the FCA today did not include such details about investment product complaints.

Read this next


The FX Algo Wheel, is it wheels up and ready to take flight?

by David Catterick, Sales Director, BidFX Australia

Retail FX

eToro users now can trade underlying Italian stocks

Israeli social trading and multi-asset brokerage company eToro has expanded its service offering and trading products by incorporating new markets, namely Italian stocks listed at underlying exchanges.

Digital Assets

BlackRock bets on crypto bank Silvergate despite drastic fall

BlackRock, the world’s largest asset manager, has increased its stake in Silvergate Bank, a crypto-friendly lender that counts major crypto exchanges like Coinbase and Kraken as clients.


A viewpoint from Anatoly Crachilov, CEO and Founding Partner at Nickel Digital, on SEC regulation of the digital asset sector

The SEC’s latest episode comes across as more of a PR performance rather than an act of investor protection.

Digital Assets

Tether denies receiving any loans from Celsius, the opposite is true

World’s largest stablecoin issuer, Tether dismissed reports suggesting that it received a $2 billion loan from the bankrupt cryptocurrency lender Celsius.

Institutional FX

Cboe FX volume makes strong rebound in January

Cboe’s institutional spot FX platform today announced its trading volume for the month ending January 2023, which marks a mild rebound after a steep fall in December.

Uncategorized appoints Exness alumni Mohamad Ibrahim as CEO, the multi-regulated financial services provider, has appointed Mohamad Ibrahim as the group’s newest chief executive officer (CEO).


B2Broker Integrates Match-Trader Solution to Expands Its White Label Liquidity Offering

A global provider of technology and liquidity for the FX and cryptocurrency markets, B2Broker recently announced the extension of its white label liquidity offering by merging with Match-Trader.

Digital Assets

UK launches open consultation to regulate crypto exchanges, custody, and lending

The government’s proposed measures have been informed by recent market events – including the failure of FTX – which reinforce the case for effective regulation and sector engagement.