Trade association PIMFA has criticised the proposed changes to the Financial Ombudsman Service (FOS) funding split, suggesting it will penalise firms with low levels of complaints.
The FOS is consulting on a new funding model that would see those who have more complaints sent to the ombudsman pay less to the running of it. Presently, 85% of FOS costs are paid by firms for each complaint taken...
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Information request by AJ Bell
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