22 Jan 2024 | Posted In Money advice news

Each year the Financial Ombudsman Service (FOS) consults publicly on its proposed plans and budget for the financial year ahead. The consultation provides those closely interested in its work, and those who pay directly for it, with the opportunity to feed back on how it delivers and funds its service. It is part of FOS’ wider engagement with stakeholders around its plans and priorities.

FOS publishes its final plans and budget before the end of the financial year they relate to, including a summary of the feedback received. Its budget is subject for approval by the Financial Conduct Authority (FCA) and the FCA publishes details of FOS fees on its website here.

The document includes the volumes of complaints FOS expects to receive and resolve, and the amounts it plans to raise through its levy and case fees.

The consultation closes on 30 January 2024 and relevant MALG Members are encouraged to respond here.