FOS pushes ahead with CMCs complaint fee proposals

FOS chair Baroness Manzoor wrote to the regulator as its consultation on the proposals closed in July and it has now reviewed the feedback received from stakeholders. The letter confirmed that there is majority support for its proposals to introduce a charge to make FOS's fee arrangement fairer by sharing costs across respondent firms and CMCs. Manzoor did however confirm that there is a disagreement on the level of the fee that should be charged, as respondent firms would like the full £650 case fee to be charged whereas CMCs would like no charge or a very low charge. There was br...