Awards under the Financial Ombudsman Scheme

Philip Ryley is a solicitor and head of Financial Services & Markets at Michelmores LLP, based in London and Exeter. JohnVirgo is a barrister specialising in financial services law and regulatory issues from Guildhall Chambers, Bristol and at 5, Stone Buildings, Lincoln’s Inn, London. Philip Ryley can be contacted by email phr@michel-mores.com or by telephone 01392 687 671.

The maximum monetary award which the Financial Ombudsman may make is set at £100,000 in the FSA Handbook but the true cost to the firm can be much higher as John Virgo , barrister and Philip Ryley , solicitor explain.