Advisers favour case fees for FOS funding

The FSA and ombudsman today published feedback from a consultation over reforming the way the arbitration service is financed. The joint statement said there was broad support for increasing the importance of case fees, not the levy. A proposal to increase the number of free cases also received widespread backing from regulated firms, all of which fund the Ombudsman service. Currently firms receive two free cases before a fee is charged. The FSA said it would assess ‘what scope exists’ for changing the funding regime to fit firms’ preferred funding method when agreeing the 2008/2009 budg...