The Financial Ombudsman Service and Financial Conduct Authority have released a joint call for input in a move to modernise the redress system.
This comes after chancellor Rachel Reeves unveiled this move from the regulators in her Mansion House speech on Thursday evening (14 November). The call for input seeks views on how to prevent financial issues leading to a spike in complaints and creating "uncertainty for firms and their customers". Both the FCA and FOS have said they want the call for input to help ensure that consumers receive appropriate redress when things go wrong. FCA admits there could have been better handling of name and shame proposals FCA and FOS also want to ensure firms identify harm at an early sta...
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