New interest rate now applies to compensation awards
2 January 2026
A new interest rate applies to the compensation we direct financial businesses to make for cases referred to our service on and after 1 January 2026.
The Financial Ombudsman Service announces that Dame Gillian Guy has been appointed as its new Independent Assessor.
The Independent Assessor reviews complaints about the level of service provided by the Financial Ombudsman Service. Gillian will start her new role in October.
Gillian has been chief executive of Citizens Advice for the last 10 years. Prior to this, Gillian was chief executive of Victim Support. Gillian was awarded a CBE in 2015 for services to consumers, then made a Dame in the New Year's Honours list 2020 for services to the public and voluntary sectors.
Baroness Zahida Manzoor CBE, Chairman of the board of the Financial Ombudsman Service, said:
I am delighted that Gillian will be taking up the role of our Independent Assessor. The role is important to our service as it provides an independent and impartial view of the level of service the we provide to consumers who come to us for help.
Caroline Wayman, chief ombudsman and chief executive of the Financial Ombudsman Service, said:
Gillian’s extensive previous experience working with consumers and businesses to ensure organisations put their customers first means that she is ideally placed to provide an independent view and help ensure we are providing the best level of service possible.
We would also like to thank our current Independent Assessor Amerdeep Somal, who will be stepping down at the end of her term for her invaluable insights over the last seven years.
Gillian Guy, chief executive of Citizens Advice, said:
I’m delighted to be taking up this new challenge as the Independent Assessor for the Financial Ombudsman Service, where I will continue to champion the fair treatment of consumers and make sure their voices are heard.
I’m looking forward to playing my part in demonstrating that the Financial Ombudsman Service is accountable and open to scrutiny, and making sure people receive an excellent level of service when they bring their complaint to the Financial Ombudsman Service.
The Independent Assessor is appointed by the board of the Financial Ombudsman Service. The independent assessor can consider complaints about the standard of service provided by the ombudsman service. This covers the practical handling of a case – but not disagreements about its outcome. Any person or business directly affected by how the ombudsman service deals with a case can complain to the independent assessor.
Read more about the role of the Independent Assessor.
Please contact our media team for more information: email [email protected] or phone 020 7964 1234.
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