FSA and FOS are consulting on plans to:

  • increase the FOS award limit to £150,000 for any complaint referred on or after 1 January 2012;
  • abolish the current two-stage complaints-handling process, so firms will have to give one "final" response and tell complainants they have the right to complain to FOS within six months;
  • introduce a rule to require firms to appoint a senior individual responsible for complaints handling, but not introducing this as a new controlled function; and
  • give guidance on how firms should meet rules on root cause analyses and take account of decisions or other guidance.

Consultation closes on 31 December.