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UK Financial Ombudsman Service set to charge GBP250 per claim referral

( February 7, 2025, 12:00 GMT | Official Statement) -- MLex Summary: Businesses that refer UK consumer complaints to the Financial Ombudsman Service will, from April, be charged a fee of 250 pounds (around $310), in a bid to deter them from filing spurious claims that are costly for the industry to respond to. The FOS said Claims Management Companies will be refunded 175 pounds if the case is decided in the consumer's favor. Almost half of all cases sent to the FOS are filed by CMCs, but consumers win only around 26 percent of them, compared to 38 percent of those brought directly.Statement below.Financial Ombudsman Service to start charging professional representatives to refer cases...

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