Why we need a free Financial Ombudsman Service

clock

Steve Bloor, of Open Resolution, says the Financial Ombudsman is a key defence against unscrupulous banks.

Anyone who has been involved in the legal process knows that winning is not just about the merits of your case but, in many cases, is also about the tactics you employ. The banks are master tacticians when the merits of their cases are perhaps questionable. One of their favourite tactics is to kick good cases into the legal "long grass". To mire otherwise strong cases against them in process and appeals in order to grind down their opponents and deter other potential claimants. The most recent example is the case involving the LIBOR linked interest rate swap sold by Barclays to ...

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's targeted support rules set to take effect from April 2026

FCA's targeted support rules set to take effect from April 2026

Regulator plans to open application gateway for firms in March

Isabel Baxter
clock 11 December 2025 • 5 min read
FCA sets out plans to simplify complaints regime

FCA sets out plans to simplify complaints regime

Including requirement for firms to report complaints involving vulnerable clients

Isabel Baxter
clock 04 December 2025 • 2 min read
FCA looks to boost transparency of ESG ratings providers

FCA looks to boost transparency of ESG ratings providers

Regulator opens consultation

Michael Nelson
clock 01 December 2025 • 2 min read