PIMFA urges FCA to postpone FOS £350,000 compensation limit hike
Set for 1 April 2019
"The FCA must immediately postpone the implementation to allow insurance companies to offer terms to our member firms reflecting the changes in the compensation limit" - PIMFA's Ian Cornwall
PIMFA has called on the Financial Conduct Authority (FCA) to postpone its implementation of the revised Financial Ombudsman Services (FOS) compensation limits.
Earlier this month, the regulator confirmed the FOS compensation limit would rise from £150,000 to £350,000 and the trade body said it had been assessing the impact of the implementation with its member...
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