Britain’s FCA Considers Imposing Cut-Off Date for PPI Complaints
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The U.K. financial markets regulator is considering whether to impose a cut-off date for customer complaints regarding wrongly sold insurance products that cost Britain’s biggest banks billions of pounds.
The Financial Conduct Authority said it plans to collect evidence on whether the “current approach is continuing to meet its objectives of securing appropriate protection” for consumers, it said in a statement on its website on Friday. It will then also consider whether further measures are necessary.