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Redress system reforms to prevent compensation delays and provide predictability needed for innovation

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.

Press release Interest Redress Compensation

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Financial Ombudsman Service announces change to compensation interest levels

15 July 2025

Today we announced plans to change the interest rate applied to the compensation awarded to consumers.

Press release Interest Redress Compensation

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Consultation on compensation interest levels launched by the Financial Ombudsman Service

4 June 2025

Today we opened a consultation on the interest rate applied to the compensation awarded to consumers.

Press release Interest Redress Compensation

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