FOS invites feedback on proposed funding model changes

Open until 5 August

Ayesha Venkataraman
clock • 4 min read

The Financial Ombudsman Service (FOS) has published a discussion paper on possible changes to its future funding model, seeking feedback from financial services organisations, trade bodies, consumer groups and other stakeholders.

The discussion paper, published on 14 June, was launched following its action plan last year, in which the FOS committed to considering revisions to its funding model. The new funding model should more closely reflect the actual cost to the FOS of dealing with different types of complaints, it said. Nausicaa Delfas, interim CEO and chief ombudsman of the FOS, said: "As part of our commitment to change and improve to deliver a better service for our customers, we are today inviting views on proposals to change our funding model.  "This is to ensure that the Financial Ombudsman Service'...

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