The FLA has consistently called for reforms that improve certainty, consistency and accountability within the UK’s financial services redress framework. We therefore welcome today’s measures from the Financial Ombudsman Service, including the confirmation that complaints will be assessed against the rules and standards in force at the time, providing greater confidence that decisions will not be based on retrospective interpretations.
These reforms are an important step towards a fairer and more transparent complaints system. Consumers and firms alike benefit from a redress framework that delivers clear, predictable outcomes while ensuring customers continue to get the help and support they need when things go wrong.
Shanika Amarasekara MBE, FLA Chief Executive said:
“Today’s announcement is an important step towards a more consistent and predictable redress system. The FLA has long called for reforms in this area and will continue to work with the Financial Ombudsman Service to support their implementation. We also look forward to further reforms that improve confidence, transparency and certainty across the wider redress framework.”
