Government's FOS reforms 'a mixed bag'

Announced yesterday (15 July), the Financial Conduct Authority (FCA) and the FOS unveiled a set of reforms as part of their plan to "modernise" the redress system. In her Mansion House speech, Reeves said: "As I promised last year, I am delivering the most significant reform to the FOS since its inception including proposing an absolute limit of ten years for claims. "This will speed up the time it takes for consumers to get redress for their complaints returning it to its original purpose as a simple, impartial arbitration service and ensuring that it no longer acts as a quasi-regula...