Market views: Better regulation for smaller brokers?


Given the Financial Ombudsman Service's (FOS) desire to see larger caseload contributors paying a greater share of the costs, do you think this heralds a focus on smaller companies well being from regulators?

Kathy Cowan, Kerr Henderson From a smaller firm’s perspective, it is hard not to raise an eyebrow regarding expressions of good intent from FOS. However, in its proposal to raise the number of ‘free’ cases from three to 25, the FOS’ paper is at least upfront in recognising the obvious inequities of the current funding model. In addition, the FOS follows the evidence that the one-size-fits-all approach to the levy (which distinguishes neither between the size of firms nor volume of complaints, thereby placing a disproportionate burden on smaller firms with fewer complaints) has to chang...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
 Be the first to hear about our events and awards programmes.



Already a Professional Adviser member?


More on Regulation

Honiton, Devon

FCA revokes passported Irish firm's temporary permissions

Wellington Court Financial Services cannot carry out regulated activity

Isabel Baxter
clock 09 October 2023 • 1 min read
Hove, East Sussex

FCA cancels permissions of Hove firm Albany Financial Consultants

Cancellation of Part 4A permissions enacted with immediate affect

Hope William-Smith
clock 01 September 2023 • 1 min read
Labour branded 'short-sighted' for vowing to battle lifetime allowance

Labour branded 'short-sighted' for vowing to battle lifetime allowance

Consultancy says attention on pensions is better spent elsewhere

Jonathan Stapleton
clock 13 April 2023 • 1 min read