Modernising the Redress System - FCA & FOS

The Ombudsman Association welcomes the proposals to modernise the redress system.

• We support efforts to provide clearer guidance on what constitutes a mass redress event and to strengthen coordination between the Financial Ombudsman Service (FOS) and the FCA in identifying such cases.
• We also support, in principle, the introduction of a ‘lead complaints’ process and a new registration stage to improve efficiency and consistency in handling mass redress events.

 

Download an accessible PDF of our response below.