The Treasury has announced National Savings & Investments will fall under the complaints regime of the Financial Ombudsman Service in order to harmonise complaints procedures with other financial services providers.
A consultation period will run until 11 August, according to documents related to the change.
The FOS operates compulsory jurisdiction rules covering FSA authorised financial services firms and unresolved complaints, but since NS&I is not FSA regulated it can only move into the voluntary jurisdiction, the Treasury says.IFAonline
15% increase in number of claims paid
Open architecture philosophy
Inflation above 2% for first this this year
Focus on customer centricity
To repay £900,000 to customers