01/02/2012 - Ombudsman To Publish Complaint Firm Names

Ombudsman To Publish Complaint Firm NamesOmbudsman To Publish Complaint Firm Names.

The Financial Ombudsman Service (FOS) is sticking to its plans to include the names of businesses involved when it starts publishing final decisions. The Association of British Insurers are arguing that it could present the public with a misleading view of financial services.

Another concern raised was that naming other businesses involved in a complaint, e.g. a product provider relating to a complaint against an IFA, could lead to reputational damage by association.

The FOS will finalise its policy on publishing decisions once politicians have "formed a clear view" on it, as the Financial Services Bill makes its way through Parliament.


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