Financial Services: Compensation — Written Question

Question

Manuela Perteghella

Liberal Democrat — Stratford-on-Avon

To ask the Chancellor of the Exchequer, if she will take steps to ensure consumers have access to redress where firms fail to comply with decisions of the Financial Ombudsman Service by (a) creating a compensation fund and (b) strengthening enforcement po

Answer

Lucy Rigby

Businesses that are regulated by the Financial Conduct Authority (FCA) are required by its rules to co-operate with the Financial Ombudsman Service (FOS), including by complying with any determination that it may make, if that determination is accepted by...

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