- FOS Publishes Issue 96 of Ombudsman News
- September 23, 2011
- Law Firm: Norton Rose Canada LLP - Montreal Office
On 15 September 2011, the Financial Ombudsman Service (FOS) published issue 96 of Ombudsman News. The issue contains an article written by Natalie Ceeney, Chief Executive and Chief Ombudsman, in which she explains that the complaints figures for the first half of the financial year (showing a doubling of the workload of the FOS when compared to last year) make forecasting what will happen in the next six months especially interesting.
Ceeney is hopeful that the FOS will begin to see a marked decline in the number of Payment Protection Insurance (PPI) complaints. The impact of PPI complaint volumes on the workload of the FOS over the coming months is crucial, not only to how the FOS will plan and deploy its resources over the rest of this financial year but to the budget and resources that will be required for the next.
Over recent weeks the FOS has been assessing risks and priorities, analysing figures and trends, and forecasting budgets and numbers for the 2012/13 financial year. Ceeney confirms that the FOS will be sharing this information with key stakeholders over the autumn months. This will lead to a formal consultation in January and February 2012 on the plans and budget of the FOS for next year. At this early stage, Ceeney believes that, its already looking as though it’s going to be another year of volatility and uncertainty on the complaints front. However, she comments that this is perhaps business as usual for an organisation like the FOS.
The issue also includes an article entitled Complaints involving e-money and has a section providing the response of the FOS to business feedback.