FLA welcomes Financial Ombudsman complaints reforms
The FLA said changes represented a step towards a fairer complaints system.
The Finance & Leasing Association (FLA) has welcomed measures from the Financial Ombudsman Service aimed at improving consistency within the financial complaints system.
The reforms include confirmation that complaints will be assessed against the rules and standards that were in force at the time, providing firms with greater certainty that decisions will not be based on retrospective interpretations.
The FLA said changes represented a step towards a fairer complaints system.
Shanika Amarasekara MBE, chief executive at the FLA, said: “Today’s announcement is an important step towards a more consistent and predictable redress system.
“The FLA has long called for reforms in this area and will continue to work with the Financial Ombudsman Service to support their implementation.
“We also look forward to further reforms that improve confidence, transparency and certainty across the wider redress framework.”
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