Financial Ombudsman Service consultation

Industry News | 05/10/21

The Financial Ombudsman Service (FOS) is consulting on proposals to temporarily change the way that the outcome of certain complaints is reported.

The FOS is exploring and implementing a number of initiatives to enable it to move faster and reduce customer waiting times. Among these is a temporary change to the way firm-specific complaints data is published. The FOS is proposing that – for a limited period – FOS complaints that are settled proactively by firms before they have been assessed by a case handler will not count towards the uphold rate.

The deadline for responses to the consultation is 18th October 2021.

Source: FOS