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ABI urges Govt to restrict FOS decision publications

The Association of British Insurers has urged the Government to restrict the number of final decisions published by the Financial Ombudsman Service.

The draft Financial Services Bill sets out the Government’s intention to require the FOS to publish final decisions.

A subsequent consultation, published in September, says the name of the firm involved should also be published.

ABI director of financial conduct regulation Maggie Craig (pictured) says: “Whilst the ABI supports transparency, it should be a means to an end, not an end in itself.

“Government legislation should encourage the Financial Ombudsman Service to work closely with consumer groups and the industry to select the most appropriate ombudsman cases for publication.”

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