Complaints against firms—financial services

Complaints against firms—financial services guidance:

This Practice Note explains the rights held by certain categories of person to sue authorised firms in circumstances in which they have suffered a loss. The legislative...

Practice Note

The rules for how firms should deal with complaints by customers are contained in the Dispute Resolution: Complaints Sourcebook (DISP) in the Financial Conduct Authority...

Practice Note

The compulsory jurisdiction of the Financial Ombudsman Service (FOS) is defined in Chapter 2 of the Financial Conduct Authority (FCA) Dispute Resolution: Complaints...

Practice Note

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...

Practice Note

Purpose of the Financial Ombudsman Service The Financial Ombudsman Service (FOS) is an independent dispute resolution scheme that exists to assist consumers in resolving...

Practice Note

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...

Practice Note

The time limits which apply to a complaint taken to the Financial Ombudsman Service (FOS) are set out in Chapter two of the Financial Conduct Authority's (FCA) Dispute...

Practice Note

The voluntary jurisdiction of the Financial Ombudsman Service (FOS) is defined in Chapter 2 of the Financial Conduct Authority's (FCA) Dispute Resolution: Complaints...

Practice Note

The evolution of judicial review cases within the financial services sector Judicial review is the procedure by which courts in England and Wales examine the decisions of...

Practice Note

Introduction Prior to September 2008, numerous small and medium-sized enterprises (SMEs) entered into interest rate hedging products (IRHPs) to support borrowing with...

Practice Note

Since 2015, the courts have grappled with the claimant argument that financial institutions owe duties of care in tort directly to their customers in connection with...

Practice Note

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...

Practice Note

The complaint-handling procedures of the Financial Ombudsman Service (FOS) are published as part of the Financial Conduct Authority's (FCA) Handbook, under Dispute...

Practice Note

Employment Rights Act 1996 and Public Interest Disclosure Act 1998 Under the Employment Rights Act 1996 (ERA 1996), as amended by the Public Interest Disclosure Act 1998...

Practice Note