FOS increases case fees

The Financial Ombudsman Services (FOS) said it will move slowly towards collecting a larger proportion of fees to fund the FOS’s work through cases brought against firms, starting from the 2008/9 financial year. A major review of the way the FOS is funded was put to one side by the Financial Services Authority and the FOS last year when it was decided that the current volatility in case load was too great to make any significant changes.