The Financial Ombudsman Service has recently set out its expectations for firms in dealing with complaints to its service. A letter outlining the expectations was sent out a letter to financial services firms from the Deputy Chief Ombudsman, James Dipple-Johnstone.
The letter gives an update on the work the Ombudsman is doing to improve its services to help more customers more quickly, and its priorities in doing so. It also sets out how firms’ behaviour can impact on this, and how they can work with FOS to resolve disputes quickly and effectively.
Also see the blog: Dealing with complaints about car finance commission (financial-ombudsman.org.uk)
Members are also reminded about the BVRLA’s Alternative Dispute Resolution (ADR) service, which looks at complaints regarding beaches of the association’s Code of Conducts. The Financial Conduct Authority’s Consumer Duty regime is now live, regulated members will need to deal with complaints in line with the Duty. See more information on the BVRLA’s Consumer Duty guidance page.
