From 1 April the Financial Ombudsman Service will be able to help even more people get answers to their problems as our remit is expanded.
We’ll be able to look into complaints from a larger group of smaller businesses and, in addition, we’ll also be able to consider complaints about claims management companies.
Commenting on the new jurisdiction for SMEs taken on by the Financial Ombudsman Services, Caroline Wayman, chief ombudsman and chief executive of the Financial Ombudsman Service, said:
Every year we help thousands of small businesses get fair answers to complaints about financial services. From today, around 200,000 more small businesses will be able to bring their complaints to the ombudsman service. We’re looking forward to this opportunity to help more businesses get fair resolution to these disputes.
Commenting on the Financial Ombudsman Services’ new responsibility to resolve complaints about CMCs, Caroline Wayman, chief ombudsman and chief executive of the Financial Ombudsman Service, said:
From 1 April, the Claims Management Ombudsman, a Financial Ombudsman Service, will be responsible for resolving complaints about claims management companies, following the transfer of regulation to the Financial Conduct Authority. The ombudsman service will be able to look at complaints against all regulated CMCs, which includes those which bring claims about financial services as well as those operating in the personal and criminal injury, housing disrepair, specified benefit and employment sectors. We’re looking forward to helping more consumers get fair resolution to their disputes.
17 July 2019
We are aware that Instant Cash Loans (“ICL”) is proposing a scheme of arrangement with its creditors (which includes customers and former customers of The Money Shop, Payday Express, Payday UK and Ladder Loans) before it looks to close down the company.