09/01/2012 - FOS Increase Free Case Limit To 25

FOS Increase Free Case Limit To 25FOS Increase Free Case Limit To 25.

The Financial Ombudsman Service (FOS) is proposing to increase the number of free cases that firms are allowed before having to pay a case fee to 25 per year.

Currently firms that have 4 or more complaints referred to the FOS during the course of 1 year have to pay a case fee of £500 to the FOS.

If the proposals are agreed, the new case fee structure would be introduced from April 2013. The FOS are also consulting on developing a new group account arrangement for the 10 financial services groups that account for over 70% of the FOS’ complaints workload.