Complaint numbers for July – September 2017 have been published on CIFO’s website. Brief headlines are given here, for further information, please see the report. In this third quarter of 2017, 119 complaints were received and 29 new case files were opened – these are complaints that are within CIFO’s mandate as set by law. Most […]

The Channel Islands Financial Ombudsman (CIFO) today (30 May 2017) published complaint numbers for the first quarter of 2017. Some highlights from the report are shown below, for full details of the complaints received and handled during the period January – March 2017, please see the report. https://www.ci-fo.org/news-publications/statistics/ https://www.ci-fo.org/wp-content/uploads/2017/05/CIFO-Complaint-Statistics-for-Q1-2017-ending-31st-March.pdf In the first quarter, January – […]

On 7 February 2017, the Financial Ombudsman Service (FOS) published issue 139 of ombudsman news. Items of interest include: Case studies relating to complaints involving people aged under 25. The majority relate to vehicle insurance and current accounts. An overview of developments relating to mortgages in the light of a review by the FOS, a […]

Following the issue of a joint policy statement the FCA and PRA have published the complaints scheme for complaints against the regulators. A copy of the complaints scheme is available below http://bit.ly/1N6z4ot

On 30 March 2016, the FCA published a press release reporting that, between July and December 2015, financial services firms received 2.11 million new complaints. Overall, there was a decrease of 1.4% in the number of complaints compared to the previous six months. This was mainly driven by a 10% drop in complaints about current […]

The Channel Islands Financial Ombudsman (“CIFO”), or to give it its full title, the Office of the Financial Services Ombudsman will open for business on 16 November 2015. Below is a brief overview on the WHAT, WHO, WHERE, WHEN, HOWS of the CIFO and how it may affect Channel Island financial services businesses. WHAT IS […]

The FCA has published complaints data for the six month period from January to June 2015. The data show that the number of complaints was 2.1 per cent lower than that for the previous six month period. This decrease was driven by a fall of 16.6 per cent in payment protection insurance (PPI) complaints. However, […]

The new proposals for financial services firms will mean that firms will have longer to resolve complaints on a less formal basis. Firms will now have three days to address a consumer’s complaint and resolve it. The FCA’s intention behind the rules is to enable firms to resolve more complaints first time instead of complying […]