The Financial Conduct Authority (FCA) has confirmed the annual increase to our award limits. 

Our award limit is the maximum amount we can require a financial service firm to pay when we uphold complaints. This limit is adjusted each year in line with inflation, as measured by the Consumer Prices Index (CPI).

From 1 April 2020, our award limits will change to:

  • £375,000 for complaints referred to us on or after 1 April 2022 about acts or omissions by firms on or after 1 April 2019.

  • £355,000 for complaints referred to us between 1 April 2020 and 31 March 2022 about acts or omissions by firms on or after 1 April 2019.

  • £350,000 for complaints referred to us between 1 April 2019 and 31 March 2020 about acts or omissions by firms on or after 1 April 2019.

  • £160,000 for complaints referred to us after 1 April 2019 about acts or omissions by firms before 1 April 2019.

  • £150,000 for any complaints referred to us before 1 April 2019.

The FCA’s policy statement PS19/8 on increasing our award limit sets out the full background. The change can be seen in the FCA's handbook

For further enquiries:

 

 

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