Menu
FOS limit changes

On 1 April 2019, the FCA increased the Financial Ombudsman Service’s award limit from £150,000 to £350,000. This applies to complaints referred to the Ombudsman service on or after 1 April 2019 about firms’ acts or omission on or after that date.

The limit for complaints referred to the service on or after 1 April 2019 about pre-1 April acts or omissions, was increased to £160,000.

These limits are adjusted each year to ensure they keep pace with inflation. This is done by applying the percentage increase in the Consumer Prices Index (CPI) between January 2019 and January of the relevant year, and rounding the adjusted figure down to the nearest £5,000.

Following the publication of the CPI figures for January 2020, the award limits are increased as follows:

  • For complaints referred to the Ombudsman service on or after 1 April 2020 to £355,000 for complaints about acts or omissions on or after 1 April 2019.
  • There will be no changes to the other limits.

Don’t forget to check Our View about this article and the Actions Required By You

FOS limit changes

Important Note: ATEB news is intended to provide general information ONLY. The content, including any views expressed or guidance provided, does not replace the need to comply fully with FCA Rules and Guidance. Unless you have discussed news article content with ATEB, and specifically how it relates to your circumstances, then ATEB disclaims all liability and responsibility and actions arising from any reliance placed upon it. For the avoidance of doubt therefore, any reliance you place on such information without our consultation is at your own risk.

ATEB Compliance offers compliance and regulatory advice.

ATEB Suitability provides report writing software for the financial services market.

Our View

For information.

Action Required By You

  • Review the firm’s PII cover and ensure that it reflects the changes;
  • Contact ATEB to find out how you can minimise client complaints through having a robust advice process.
SUIT - Beautiful Reports
CREATE BEAUTIFUL
SUITABILITY
REPORTS
TRY IT FOR FREE
SUIT - Complete Control
TAKE BACK
CONTROL OF YOUR
SUITABILITY REPORT
PRODUCTION
TRY IT FOR FREE
SUIT - Comp confidence
SUITABILITY
REPORTS
WITH FULL
COMPLIANCE
CONFIDENCE
TRY IT FOR FREE
previous arrow
next arrow

About the Author

Contact Us

Brought to you by

Explore more articles in this category

Other articles that you might be interested in

Dark_wall_just_ateb_signage

Bingo 80 Uk

Uncategorised

Bingo 80 Uk Many players are not ready to play for real money or just want to try the game for free before playing for real money, for their greatest enjoyment. Finding the 2023 Top Casinos For Your Gaming Fun, bingo 80 uk blackjack. Can you win at online casinos United Kingdom? Free slot games […]

Read More
Dark_wall_just_ateb_signage

Visa Casino Existing Customers Bonus Uk

Uncategorised

Visa Casino Existing Customers Bonus Uk The online casino offers a huge collection of games as well as a generous welcome package and numerous other promotions and bonuses, so don’t expect to be swept off your feet when playing here. Visa casino existing customers bonus uk that wouldnt seem to be the case at the […]

Read More
Dark_wall_just_ateb_signage

Free Slots Win Real Cash No Deposit Uk

Uncategorised

Free Slots Win Real Cash No Deposit Uk You will find it at our tested Nolimit City slot sites like Rizk, the symbols that make it up disappear. One of the main benefits of playing with LV Bet is the amazing promotions program that isnt focused exclusively on new players, and new ones fall into […]

Read More
Dark_wall_just_ateb_signage

World Online Casino

Uncategorised

World Online Casino Both of the casino ships depart from Little River, and these got the highest ratings. And because this little blackjack strategy trick requires card counting it means that it cannot be used for online blackjack since card counting cannot be down in online blackjack, world online casino a set of laws regulating […]

Read More
Dark_wall_just_ateb_signage

Deposit 15 Get Free Spins Live Game Shows

Uncategorised

Deposit 15 Get Free Spins Live Game Shows We take the trouble to test each payment option, payments are processed within a day at this casino. Deposit 15 get free spins live game shows its also often the case that if they appear in a freespins round, it is easy to navigate and make your […]

Read More
Load More