FCA Data Bulletin

Lies, damned lies, and statistics.

The FCA has issued the first of its Data Bulletins. It is designed to pass on some of the statistical information they hold. It is an interesting read.

Did you know that:

  • Of all the firms it authorises, 28% are general insurance intermediaries, 27% are personal investment firms and 7% are mortgage related businesses;
  • 34% of authorised firms are located in Central and Greater London, while the north-east has the lowest concentration with only 2%;
  • PPI remains the most complained about product and that nearly £16 billion (yes billion) has been paid out to date in PPI compensation.

You can find the bulletin here.

You may be interested to know that the phrase “Lies, damned lies, and statistics” was popularised by Mark Twain who attributed it to the 19th-century British Prime Minister Benjamin Disraeli (1804–1881), although the phrase is not found in any of Disraeli’s works and is therefore often attributed to Twain himself.

 

Important Note: ATEB news is intended to provide general information ONLY. The content, including any views expressed or guidance provided, does not replace the need to comply fully with FCA Rules and Guidance. Unless you have discussed news article content with ATEB, and specifically how it relates to your circumstances, then ATEB disclaims all liability and responsibility and actions arising from any reliance placed upon it. For the avoidance of doubt therefore, any reliance you place on such information without our consultation is at your own risk.

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Our View

Possibly not as entertaining as one of Mark Twain’s works, but definitley worth 10 minutes of your time. 

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About the Author

Steve is an ATEB Director and has a deep understanding of all matter regulatory, built up over his 30 years + in the industry. With a training background and a technical brain, he overseas numerous complex projects and client implementation work.

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