Initial responses to the Financial Services Authority's discussion paper on the future funding of the ombudsman favour a model where no case fees will be payable up to a cut-off point.
The FSA says the majority of respondents, including most trade bodies, favour a new approach to funding the ombudsman where no case fees will be payable up to a cut-off point, after which a case fee of around £480 will be payable, with a flat-rate annual fee. Specifically, respondents favour options E to H: Option E: case fees would be payable for the sixth and subsequent cases and a flat rate annual fee per permission would be around £110; Option F: case fees would be payable for the sixth and subsequent cases and a flat rate annual fee per firm would be around £175; Option G: cas...
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