Financial Services
(asked on 8th January 2015) - View Source
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what his policy is on removing the compensation limit set by the Financial Services Ombudsman.
This question was answered on 21st January 2015
The Financial Services and Markets Act 2000 provides for the Financial Conduct Authority (FCA) to determine the level of the Financial Ombudsman Service compensation limit.
This is a matter for the FCA, who are operationally independent from Government. The question has been passed on to the FCA. The FCA will reply directly to the honourable member by letter. A copy of the letter will be placed in the Library of the House.