FOS compensation limit could be raised (for small businesses)

The Financial Conduct Authority said it is considering raising the cap on compensation paid out by the Financial Ombudsman Service to more than £150,000.

Hmmm…Remember there is no independent appeal against FOS decisions, which are made on the basis of what the Adjudicator or Ombudsman ( who may not have financial qualifications) thinks is “fair and reasonable”.  I suggest £150,000 is more than enough.
Read the story in FT Adviser
FCA discussion paper



Categories: FOS

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