The Financial Ombudsman Service (FOS) will introduce case fees for claims management companies and other professional representatives (such as law firms) from today (1 April).
The new proposals are to make the FOS charging model fairer and to encourage claims management companies to consider the merits of complaints more diligently before referring them to FOS.
FOS has engaged with stakeholders including professional representatives, trade bodies and regulators to gather insight and feedback. It is keen to understand where there might be additional guidance it can provide.
There is full guidance available about case fees and governance and funding on the FOS website. There is also a page with information for professional representatives.
