The Financial Ombudsman Service (FOS) has moved a step closer to making its decisions public, but is being held back by fears claims management companies will use the rulings as "ammunition" against firms.
Minutes from a FOS meeting in December show decisions director Tony Boorman discussed the issue with the board, which approved a draft briefing paper to the Treasury. But the minutes also show FOS chairman Chris Kelly reported concerns from an industry steering group about naming financial businesses. He highlighted the risk that publication of decisions would give more "ammunition" to claims management companies. Consumer groups were in favour of full naming of firms and publishing of final decisions, the minutes said. With the organisation set to be subject to Freedom of Inf...
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