Written Question·Treasury·UIN 99802
Financial Services: Compensation
Tabled: 15 December 2025
Answered: 22 December 2025
Question
Bambos Charalambous
Labour — Southgate and Wood Green
To ask the Chancellor of the Exchequer, what assessment she has made of the effectiveness of the (a) Financial Conduct Authority and (b) Financial Ombudsman Service’s recent changes to compensatory interest.
Answer
Lucy RigbyThe Financial Ombudsman Service (FOS) is responsible for setting the interest rate it applies to awards. Following consultation, the FOS has confirmed that it will change the interest rate that it applies to some compensation awards, moving from the curre...
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