What is a consumer redress scheme? Rule making powers came into force in 2010 which afforded the predecessor to the Financial Conduct Authority (FCA), the Financial...
What is an 'eligible complainant'? In order to refer a complaint to the Financial Ombudsman Service (FOS), a person must be an 'eligible complainant'. This applies...
Purpose of the Financial Ombudsman Service The Financial Ombudsman Service (FOS) is an independent dispute resolution scheme that exists to assist consumers in resolving...
Awards by the FOS Where a complaint to the Financial Ombudsman Service (FOS) is upheld, the FOS may order a respondent firm (the respondent) to pay money, costs and/or...
The voluntary jurisdiction of the Financial Ombudsman Service (FOS) is defined in Chapter 2 of the Financial Conduct Authority's (FCA) Dispute Resolution: Complaints...
Creation of the Money Advice Service In 2010, the Financial Services Act 2010 amended the Financial Services and Markets Act 2000 (FSMA 2000) with a view to enhancing...
Background to super complaints The Financial Services Act 2012 amended the Financial Services and Markets Act 2000 (FSMA 2000) by introducing two new frameworks for...
The complaint-handling procedures of the Financial Ombudsman Service (FOS) are published as part of the Financial Conduct Authority's (FCA) Handbook, under...
The Financial Services Compensation Scheme (FSCS) came into force on 1 December 2001 (although still covers claims from before that date) and is established under Part XV...