PARLIAMENTARY WRITTEN QUESTION
Financial Ombudsman Service (24 May 2016)
Question Asked
To ask Mr Chancellor of the Exchequer, what assessment he has made of the potential merits of extending the time limit that consumers can make a complaint to the Financial Ombudsman Service.
Asked by:
Jonathan Reynolds (Labour)
Asked by:
Jonathan Reynolds (Labour)
Answer
The Financial Services and Markets Act 2000 provides for the Financial Conduct Authority (FCA) to determine the time limits for referring a complaint to the Financial Ombudsman Service (FOS).
This is therefore a matter for the FCA, who are operationally independent from Government. The question has been passed on to the FCA. The FCA will reply directly to the honourable member by letter. A copy of the letter will be placed in the Library of the House.
Answered by:
Dame Harriett Baldwin (Conservative)
6 June 2016
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