Financial services firms to see lower case fees for complaints to financial ombudsman

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Financial services firms to see lower case fees for complaints to financial ombudsman

Financial services firms stand to pay lower fees in future where claims management companies (CMCs) bringing complaints on behalf of consumers before a UK watchdog fail with their case, Pinsent Masons said in a briefing note.  The change was announced by the Financial Ombudsman Service (FOS) and represents a rebalancing of the fee model that supports the ombudsman’s operations. The new policy takes effect from 1 April. The FOS is an independent …