The Financial Ombudsman Service has today published a consultation on proposed amendments to the way it reports business-specific complaints data.
The consultation sets out proposals designed to incentivise firms to settle complaints proactively where the Financial Ombudsman Service is yet to issue an opinion by making a longer-term change to how it publishes business-specific complaints data.
This follows on from a similar initiative it launched in November 2021, which led to around 100 businesses making 7,000 offers to resolve complaints more quickly. The Ombudsman Service has been considering the results and feedback from that initiative to see if we can, and should, take forward something similar on a more permanent basis.
This is one of the measures that the Financial Ombudsman is taking to get answers to customers faster.
The consultation is open for two weeks and closes at 5pm on Monday 20 March 2023. The consultation document is available here.
