FOS compensation limit increasing to £375,000 on 1 April

Current limit £350k

Julia Bahr
clock • 3 min read

The Financial Conduct Authority (FCA) has confirmed that the Financial Ombudsman Services (FOS) compensation limit will increase from £350,000 to £375,000 on 1 April 2022.

The award limits will change to £375,000 for complaints referred to the ombudsman on or after 1 April 2022 about acts or omissions by firms on or after 1 April 2019, and £170,000 for complaints referred to on or after 1 April 2022 about acts or omissions by firms before 1 April 2019. The FOS's award limit is the maximum amount it can require a firm to pay out when a complaint is upheld. The limit is adjusted each year in line with inflation, the Financial Conduct Authority has confirmed, as measured by the consumer prices index.  The rise in award limits, which is going up alongside i...

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

FCA crackdown leads 24 CFD firms to cease operating since 2025

FCA crackdown leads 24 CFD firms to cease operating since 2025

Misuse of authorisation

clock 25 September 2026 • 1 min read
Steve Andrews: The rewards of doing the right thing

Steve Andrews: The rewards of doing the right thing

Immanuel Kant's categorical imperative

Steve Andrews
clock 21 September 2026 • 4 min read
FCA crypto registrations more than double ahead of landmark regulatory framework

FCA crypto registrations more than double ahead of landmark regulatory framework

Majority now achieve approval

clock 21 September 2026 • 2 min read