FCA actively 'monitoring' number of platform complaints

'Would be worried as a re-platformer'

The Financial Conduct Authority (FCA) has said it will monitor the number of complaints platform customers make about them to see how many people are losing out because of poor service.

In its annual report and accounts for 2017/18, the financial watchdog acknowledged the possibility that platform customers could be "harmed" if they are unable to gain access to the service they expect and pay for. The FCA said: "If consumers are unable to access the platform they have invested through then they will not be receiving the service they reasonably expect and are paying for. "Recent complaints data tell us that firms received 15,834 complaints about their platform service, caused by general administrative or customer service problems. We will monitor trends in the number ...