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&#39Virtually final text&#39 on FOS financing to be published

The FSA is publishing the final version of its complainthandling rules together with the “virtually final” rules on funding the Financial Ombudsman Service.

The joint FSA/FOS policy statement also incorporates feedback on arrangements for the funding of the FOS and the “virtually final text” of these rules.

The regulator says there are special case fee rules required as part of the transitional funding arrangements during the post-N2 portion of the current financial year from December 1, 2001 to March 31, 2002.

Although the consultation on the FOS funding rules finished earlier this year, they could not be finalised until the FSA&#39s own fee-raising arrangements were settled because FOS funding rules are intended to mirror those of the FSA as far as possible.

The regulator is also publishing a short consultation on the rules relating to special transitional case fees. The closing date for consultation is October 31.

An FSA spokesman says: “The main aim is to continue to consult on the periodic fee tariffs and rates that will apply from N2 to March 2002.”


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