The Financial Ombudsman Service (FOS) can award compensation up to a maximum of £150,000. Once an award has been made, the claimant can decide whether to accept or reject it – if accepted it is final and binding on both parties. It had previously been thought that once compensation had been accepted and received following a FOS decision then the matter was closed and no further proceedings could be brought in relation to it, even where the losses sustained were in excess of £150,000. In the recent case of Clark v In Focus the High Court has found that claimants are not prevented from bringing subsequent proceedings in the courts to claim damages in excess of the FOS cap, even where they have accepted and banked the compensation awarded by FOS.