Jersey’s first Financial Services Ombudsman will begin investigating and resolving complaints on November 16 2015. Once the ombudsman scheme is in operation, the ombudsman will adjudicate complaints from individual customers in relation to financial services provided in Jersey and will be able to make awards to return complainants to the position that they would have […]

the Financial Ombudsman Service’s Annual Review – The Financial Ombudsman Service (FOS) Annual Review contained unpleasant food for thought for both the banking and insurance industries and also for the Financial Services Authority (FSA). There were a total of 264,375 new cases, up 28 percent with a shocking 64 percent uphold rate for cases concluded […]

[UK / FSA regulation, The Financial Ombudsman Service’s (FOS) ] FOS note on compensation for non-financial loss – The Financial Ombudsman Service (FOS) has published a technical note which sets out the FOS’ approach when considering whether a business should be directed to pay compensation for any distress, inconvenience or other non-financial loss that has […]

FOS news – The Financial Ombudsman Service (FOS) has published the latest edition of “Ombudsman News” (Issue 102), which focuses on: • money transfer case studies; • how businesses handle complaints according to feedback from FOS adjudicators; and • case studies involving section 75 of the Consumer Credit Act 1974. A copy of the newsletter […]