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Financial-services companies to see ombudsman's compensation levels double, FCA confirms

( March 8, 2019, 12:23 GMT | Official Statement) -- MLex Summary: UK businesses are in line for significantly higher compensation when complaints about financial-services companies are upheld by the Financial Ombudsman Service. From April 1, the limit the ombudsman can require companies to pay individuals or businesses will rise from 150,000 pounds to 350,000 pounds, the Financial Conduct Authority has said.Statement follows. The document is attached....

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