Modernising the redress system: A significant opportunity for reform

The Financial Conduct Authority (FCA) and Financial Ombudsman Service (FOS) joint call for input on modernising the redress system which closed at the end of January, represents a genuine and significant opportunity to rethink the way that complaints are resolved in UK financial services. In the call for input, the FCA and FOS asked a series of wide questions about reform, fuelling an already vigorous debate.  FOS had already consulted on, and announced its intention to implement, case fees on claims management companies and other professional representatives.  The call for input i...