FOS funding review postponed

Radical plans to change the way the Financial Ombudsman Scheme (FOS) is financed have been postponed. A review began last year driven by the increase in the number of small firms to the FOS’s compulsory jurisdiction and complaints from some firms that the arrangements were unfair. The FOS and FSA said they were looking at the more radical end of its options to change the funding structure to target case fees from firms that use the service the most.