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ombudsman news

issue 60

March/April 2007

ask ombudsman news

first-ever complaint - what do we do-

We've received a complaint for the first time. What do we do-

an independent financial adviser (IFA)

Many financial services businesses receive complaints only rarely - so may not be used to the official procedures they have to follow if a customer complains.

You'll find more information about what you need to do on our website in the publication, "a quick guide to helping you resolve complaints." And don't forget our special online resources for businesses.

"quick guides" are our series of fact sheets for businesses - giving an informal overview of a range of technical issues. Current titles in the series are:

helping you resolve complaints [PDF version opens in new window]

A quick guide for businesses - briefly setting out what you need to do if a customer complains.

how we handle disputes between businesses and their customers [PDF version opens in new window]

A quick guide for businesses that don't usually have much direct contact with us - explaining our general process and procedures.

funding and case fees [PDF version opens in new window]

A quick guide to how we are funded and when and how the case fees apply.

our jurisdiction: where investment firms are no longer authorised [PDF version opens in new window]

A quick guide - primarily for investment firms formerly regulated by FIMBRA or PIA - to our rules and remit relating to complaints about firms that are no longer authorised to carry out investment business.

hearings [PDF version opens in new window]

A quick guide - for consumers and businesses who have complaints with the ombudsman service - to how hearings fit into our process.

calculating redress for mis-sold mortgage endowments [PDF version opens in new window]

A quick guide - primarily for insurers and advisers - to how redress is calculated if we uphold a mortgage endowment complaint and award standard redress (as set out by the FSA).

calculating redress in investment complaints [PDF version opens in new window]

A quick guide - primarily for investment firms and advisers - to how redress is calculated if we uphold an investment-related complaint.

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ombudsman news issue 60 [PDF format]

ombudsman news gives general information on the position at the date of publication. It is not a definitive statement of the law, our approach or our procedure.

The illustrative case studies are based broadly on real-life cases, but are not precedents. Individual cases are decided on their own facts.