UK Financial Ombudsman Service News

UK Financial Ombudsman and FCA Modernise Redress System

The UK Financial Ombudsman Service (FOS) and the Financial Conduct Authority (FCA) are implementing measures to modernise the financial redress system. These changes aim to ensure consumers receive fair and timely compensation while providing businesses with greater certainty. Key reforms include a new registration stage for complaints.

Financial Ombudsman Service Sets Case Resolution Targets

The UK Financial Ombudsman Service has published its plans and budget for the 2026/27 financial year, setting a target to resolve 245,000 cases. The service is consulting on these ambitious targets, which include resolving over 80% of cases within six months.

Financial Ombudsman Service Warns Students About Financial Pitfalls

The UK's Financial Ombudsman Service has issued a warning to university students about common financial pitfalls as they return to education. The notice aims to raise awareness of potential financial issues and inform students about the services available to help resolve disputes with financial providers.

Financial Ombudsman Service Sees Lowest Complaint Levels in Two Years

The UK's Financial Ombudsman Service (FOS) reported a significant decrease in new cases, with complaint volumes returning to levels seen in 2023/24. The period between October and December 2025 saw 47,300 complaints, down from 68,400 in the same quarter the previous year. This reduction is attributed to factors including the FCA's complaint handling pause for motor finance cases.

Financial Ombudsman Service Warns of Investment and Employment Scams

The UK Financial Ombudsman Service has issued a warning regarding a rise in online investment and employment scams. In 2025, the service received over 31,300 fraud and scam complaints, with approximately 20,000 involving authorised payments to scammers.

Financial Ombudsman urges young drivers on car insurance

The UK's Financial Ombudsman Service has issued a notice urging young drivers to make informed decisions about car insurance. The service highlights common pitfalls and issues, including policy cancellations, administrative problems, and claim disputes, based on over 1,200 complaints received from drivers under 25 last year.