Barrister says FOS in need of drastic reform, suggests new system without ombudsmen (!)

Peter Hamilton is a barrister at 4 Pump Court.  He is a long standing critic of the FOS, together with his colleague Anthony Speaight QC who, in 2011, published an excoriating criticism of FOS entitled  “OMBUDSMEN WHO ARE AN AFFRONT TO THE RULE OF LAW”.  Much has changed since 2011 including the new regulatory authority (FCA), but much of what he says is well worth a read.
The two of them have suggested a new system for financial disputes, with the position of Ombudsman abolished and all cases handled by Adjudicators (who do most of the work anyway) but the decision subject to a fresh investigation by a new tribunal.  It won’t happen of course so the Ombudsmen won’t have to face being abolished and their salaries and other costs used to set up an aid fund for complainants !

Read Peter Hamilton’s article
Read Anthony Speaight QC’s critical article

Categories: FOS

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