Complaint handling sourcebook “made”

The Dispute Resolution: Complaints Sourcebook DISP 1-4 has been “legally made” by the Financial Services Authority and the Financial Ombudsman Service (FOS). DISP5 rules, which cover funding of the FOS, are “virtually final”. Consultation (CP99) on FOS funding closed earlier this year but could not be confirmed until the regulator’s own fee-charging structure was set because the FOS funding mechanism aims to reflect that of the FSA as closely as possible. DISP5 rules, in the main, do not come into effect until the start of April 2002 .The tariff rates and case fees for the 2002/3 FOS funding rules will be consulted on during the FOS budget discussions in January. A short consultation has been issued that covers rules for transitional case fees due from N2 to 31 March 2002 . These will be cases that pertain to: one, complaints against former PIA members; two, complaints relating to “new joiners” handled by the FOS between N2 and 31 March 2002 ; and complaints about unauthorised firms in respect of business pre-N2 which come under Compulsory Jurisdiction in line with the Treasury’s Ombudsman Transitional Order.