PS19/8: Increasing the award limit for the Financial Ombudsman Service

The Financial Conduct Authority issued Policy Statement PS19/8 to implement an increase in the Financial Ombudsman Service's award limit. This regulatory change raises the maximum compensation amount the Ombudsman can award to consumers in disputes with financial firms. The policy aims to ensure the ombudsman scheme remains effective and accessible for handling a wider range of consumer complaints.

United Kingdom

Financial Conduct Authority

Open consultation: CP18/31

16/10/2018

Consultation closes

21/12/2018

Policy Statement

08/03/2019