FOS resolves half a million complaints in 'unprecedented' year

clock

A record year at Financial Ombudsman Service (FOS) saw 40,000 queries a week resulting in 512,167 new complaints during the past 12 months.

In its annual review for 2013/14 the said it answered 2.3 million enquiries from consumers and settled a record 518,778 disputes - more than double the number last year. Payment protection insurance (PPI) made up 78% of all cases, with the number of PPI complaints rising 6% to 399,939. Chief ombudsman Tony Boorman (pictured) said: "It's been an unprecedented twelve months for the ombudsman by anyone's standards. Complaints continued at record levels - and we resolved over half a million cases during the year. "But our work - and complaints handling in general - is about much more t...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Oberon Investments agrees to FCA restrictions on wealth management arm

Oberon Investments agrees to FCA restrictions on wealth management arm

Onboarding subject to permission amid systems and controls review

Jen Frost
clock 14 April 2026 • 1 min read
FCA eyes commission ban for VCTs & EIS

FCA eyes commission ban for VCTs & EIS

Brokers criticise the move

Laura Miller
clock 25 March 2026 • 5 min read
Ex-Janus Henderson analyst jailed for insider dealing and money laundering

Ex-Janus Henderson analyst jailed for insider dealing and money laundering

Former analyst's sister also sentenced

Linus Uhlig
clock 07 July 2025 • 2 min read