The Financial Ombudsman Service has published its consultation Feedback Statement on proposed amendments to the way it reports business-specific complaints data.
Over the last year we’ve made good progress in bringing down our backlog and waiting times, but there’s more for us to do to provide the best service to all our customers.
As a result of the consultation and feedback received, the Financial Ombudsman Service will be proceeding with the initiative, which will see it report cases as “proactively settled” where certain criteria is met. This will be a trial for the 2023/24 financial year.
This follows on from a similar initiative launched in November 2021, which led to around 100 businesses making 7,000 offers to resolve complaints more quickly.
The key difference from the previous consultation and implementation is that this initiative only applies to new cases with the service.
15 July 2025
The Financial Conduct Authority (FCA) and Financial Ombudsman Service are seeking to modernise the financial redress system to help prevent it becoming overwhelmed, delaying consumer compensation.
15 July 2025
Today we announced plans to change the interest rate applied to the compensation awarded to consumers.
2 July 2025
Financial complaints are at their highest level in six years, according to new annual figures.
