16 April 2020

By Ciara Davies.

The measures all have one thing in common: ensuring that firms can work at pace and under difficult conditions support their customers.

Some firms have raised concerns about how the FOS will consider complaints arising from their acts or omissions during this time. To that end, the FCA asks the FOS to confirm that in determining what is fair and reasonable the ombudsman will take account of operational challenges faced by firms during this period, as well as the FCA’s revised expectations of what constitutes compliance with its rules, guidance and standards. Where the FCA has issued guidance that gives firms additional flexibility, the FCA asks the FOS to confirm that it will take this into account.

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