More than 15 million people in the UK* routinely miss out on refunds, replacement products and getting problems sorted because they don’t know how to complain with confidence, new research reveals. In a study for the Financial Conduct Authority (FCA), which is encouraging people to check if they were mis-sold PPI and make a complaint before they miss their chance, 28% of Brits admit they put up with situations including queue jumpers, sub-standard meals and poor service because they lack the confidence and know-how to speak out.
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More than 15 million people in the UK* routinely miss out on refunds, replacement products and getting problems sorted because they don’t know how to complain with confidence, new research reveals. In a study for the Financial Conduct Authority (FCA), which is encouraging people to check if they were mis-sold PPI and make a complaint before they miss their chance, 28% of Brits admit they put up with situations including queue jumpers, sub-standard meals and poor service because they lack the confidence and know-how to speak out.
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The BIS’s Financial Stability Institute (FSI) and the G20’s Global Partnership for Financial Inclusion (GPFI) convened the fourth biennial conference on global standard-setting bodies (SSBs) and innovative financial inclusion on 25-26 October 2018 in Basel, Switzerland. The conference came on the heels of the launching at the International Monetary Fund and World Bank Annual Meetings of the Bali Fintech Agenda – a 12-element blueprint for harnessing fintech’s opportunities, including for financial inclusion and financial sector development, while mitigating emerging risks to vulnerable retail customers and to the integrity and stability of the global financial system.
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It was a clash of old and new. In the lobby of Brussels’ Plaza Hotel were ornate chandeliers, royal portraits and a marble staircase. In the adjacent conference room, compliance officers from across Europe were discussing how the latest trends in technology can help them meet the growing risks to businesses. The experts agreed that some of the most promising risk technologies leverage artificial Intelligence, blockchain and biometrics.
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The European Central Bank has revoked the licence of Malta’s Pilatus Bank after its chairman was arrested in the US on money-laundering charges. Malta’s Financial Services Authority announced the move, saying it had called on the ECB to take action. Journalist Daphne Caruana Galizia, who was killed by a car-bomb a year ago, accused the bank of processing corrupt payments.
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The Financial Conduct Authority (FCA) has set out the issues it will focus on as part of a market study into how general insurance (GI) firms charge their customers for home and motor insurance. As part of the FCA’s 2018/2019 Business Plan, it said it would conclude a piece of supervisory work on insurance pricing practices, the results of which it has published.
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The European Banking Authority (EBA) publishes its final Guidelines on management of non-performing and forborne exposures. The Guidelines, developed in accordance with the European Council Action Plan, aim to ensure that credit institutions have adequate prudential tools and frameworks in place to manage effectively their non-performing exposures (NPEs) and to achieve a sustainable reduction on their balance sheets. To this end, the Guidelines require institutions to establish NPE reduction strategies and introduce governance and operational requirements to support them.
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Nordea expands its digital payment offering by adding Google Pay, a mobile payment solution for Android phones. Nordea customers in all Nordic countries can now use Google Pay at contactless payment terminals and in apps and online stores.

The European Securities and Markets Authority (ESMA) publishes the priorities that the European enforcers will particularly consider when examining 2018 financial statements of listed companies. These priorities are set out in the annual Public Statement on European Common Enforcement Priorities (Statement), which promotes the consistent application of the International Financial Reporting Standards (IFRS) and other financial and non-financial reporting requirements.
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The Financial Conduct Authority (FCA) has published an update on the progress of its payment protection insurance (PPI) consumer communications campaign and supporting supervisory work. The campaign has succeeded in increasing consumers’ understanding of PPI and how to check if they have had it, as well as awareness of the deadline for making complaints. 73% of people recognise the FCA’s campaign and over 2 million people have visited the FCA PPI website since the campaign launched.
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