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FCA criticised over complaints handling

The Financial Conduct Authority has been criticised for taking too long to handle complaints.

In its annual report, the Financial Services Complaints Commissioner, which oversees the FCA, said it has been raising concerns about delays for more than a year.
The commissioner has said there is now a backlog and while resources have been increased to handle this, it still exists.

Antony Townsend, the complaints commissioner, said: “In my last annual report published in July 2016, I highlighted the importance of the FCA’s complaints team having the resources it requires to deal with a rising workload (a concern which I had indicated to the FCA board earlier in 2016), and stressed the importance of meeting deadlines.