On 13 October 2021, the Financial Ombudsman Service announced a refresh of its guidance on making awards for distress or inconvenience. Whilst its approach has not changed, feedback from stakeholders has led to more detailed guidance being published which the FOS hopes will help financial businesses and their customers reach a fair outcome.
Garry Wilkinson - Principal Ombudsman and Director of Investigation – announced the updates in his blog, available here, and the full updated guidance is available here.
DLA Piper regularly advise regulated organisations on complaints handling and FOS obligations. Should you wish to discuss any of the updates or your approach to complaint handling, please get in touch with your regular DLA Piper contact.
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