Caroline Wayman, Chief Ombudsman and Chief Executive Officer, Financial Ombudsman Service and Sir Nicholas Montagu KCB, Chairman, Financial Ombudsman Service are to appear before the Treasury Select Committee at 10.00am on 22nd Jan 2019.
The Committee has been quite critical of FOS matters recently, and the Chair, Nicky Morgan, has sent several letters to Ms Wayman, much of this resulting from the TV documentary last year revealing and criticising several practices at FOS.
The Committee members do not mince their words and this meeting should be worth seeing !
It should be available to view live on Parliamentary TV by clicking on the link, starting at 10.00am on Tue 22nd Jan 2019. Recordings are usually available afterwards if you miss the live show.
Regrettably I was unable to view this meeting and I don’t have time to analyse it at this point. I will try to add some useful links below.
FT Adviser comments on FOS waiting times. A suggestion by a committee member that a whistleblower says there are 30,000 cases not allocated to a caseworker and 8000 awaiting ombudsman decisions, was raised. Ms Wayman said the 8000 figure was “about right” and waiting times were probably longer than 3 years ago.