Call for input: SME access to Financial Ombudsman Service
Regulatory Updates | 21/03/23
The FCA have launched a Call for Input to inform their review of whether the thresholds for small and medium enterprises (SMEs) being able to refer complaints to FOS remain appropriate. In April 2019, the new rules meant SMEs could refer complaints to FOS. The FCA said they would review this following implementation, but the review was impacted by the pandemic. The FCA are now looking for stakeholder input, by 28th April, as to whether the threshold remain sufficient or need amending.