The Financial Ombudsman Scheme (FOS) will begin naming complained about firms from the summer under new powers to publish final decisions that it has under the Financial Services Bill.
FOS gets the new powers from 1 April but said it wants build up a "representative sample" of final decisions before it makes them available on its website, adding the first batch will likely go live from July. In a note on the FOS website, it states: "As we will not be publishing ombudsman decisions retrospectively, we also want to make sure that when the new database first goes live, it will hold enough decisions to show the full range of work we do." The final decisions - where FOS has made a legally binding ruling on complaints by consumers against financial firms - will not contai...
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