The Financial Ombudsman Service (FOS) has published a consultation which sets out the amendments that it proposes to make to its scheme rules, allowing businesses and consumers to have complaints under consumer redress schemes dealt with by an Ombudsman. The proposed amendments will affect businesses subject to FOS’s Compulsory Jurisdiction and Voluntary Jurisdiction and its standard terms subject to its Voluntary Jurisdiction in Dispute Resolution: Complaints sourcebook (DISP) and Glossary of the Financial Conduct Authority Handbook.

The consultation paper is seeking views on proposed minor consequential amendments to be made to references to ‘consumer redress scheme’ complaints in DISP 3, reflecting a change brought about by the Alternative Dispute Resolution for Consumer Disputes (Competent Authority and Information) Regulations 2014, allowing businesses and consumers to agree complaints subject to consumer redress schemes can be dealt with by an Ombudsman.

For the full consultation click here.