FOS to apply CMCs complaint fee from April

Charge of £250 will be applied to ‘make funding arrangements fairer’

Isabel Baxter
clock • 4 min read

The Financial Ombudsman Service (FOS) will be making a proposal to charge professional representatives £250 to refer a case to its service from 1 April 2025.

In a bid to "make its funding arrangement fairer", professional representatives will be able to bring ten cases to the service for free each financial year. After that, every subsequent case they refer will be chargeable. They will receive £175 back in credit if the complaint is found in favour of the consumer they represent, reducing the charge they pay to £75. The FOS said this charge comes as a large proportion of complaints referred to the dispute resolution service in recent years have been driven by professional representatives who either charge consumers or take a percentage of...

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 Companies

Hargreaves Lansdown eyes targeted support launch

Hargreaves Lansdown eyes targeted support launch

In coming months

Sophia Panayi
clock 04 August 2026 • 2 min read
Clifton Wealth Partnership acquires two South Wales IFAs

Clifton Wealth Partnership acquires two South Wales IFAs

Banyard Independent Advice Services and Wilcox Financial Planning add £68m AUM

Sophia Panayi
clock 03 August 2026 • 2 min read
Five Wealth appoints co-founder Steve Jordan as CEO

Five Wealth appoints co-founder Steve Jordan as CEO

Follows co-founder and chair Phill Dewhurt’s retirement

Sophia Panayi
clock 03 August 2026 • 2 min read