The Financial Ombudsman Service (FOS) will make public business-specific complaints data from the Autumn, it has confirmed.
The first report will cover from January to the end of June this year and will include only those firms with at least 30 new and 30 closed cases during that period.
Its decision to publish complaints figures follows a public consultation, which began in July last year, setting out its transparency agenda.
Data will comprise the numbers of new cases and the percentage of closed cases where there has been a change of outcome in favour of the consumer. It will also publish the average percentage change in outcome.
The FOS says the move is not to "name and shame" those companies with poor complaints records, but instead to highlight firms "that handle complaints very well".
Respondents to the consultation expressed concern complaints statistics could further hamper consumer confidence in the industry, but the FOS says "the damage has already been done" as aggregate complaint data is already published.
It adds it will conduct further research into the format of the data, promising it will not publish before 1 September "to allow time for more discussion amongst stakeholders".IFAonline
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