FOS consults on plans for 2019/20

The FOS has published a consultation on its plans and budget for 2019/2020.

It notes that from April 2019, its jurisdiction will be expanded by the addition of two significant areas of work: complaints made by SME customers of financial services, and complaints made by customers of claims management services. The consultation questions include inviting views on the FOS’ plans for these new jurisdictions.

Overall, and against a background of rising complaints levels, in particular as the PPI deadline approaches, it expects an overall rise in complaints by about 13% in the forthcoming year, although it plans to ‘freeze’ fees.

The FOS’ consultation closes on 31 January 2019.