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FOS developing PPI complaint questionnaire

The Financial Ombudsman Service is developing a PPI complaint questionnaire for firms to administer to complainants.

The questionnaire, to be developed during the FSA’s consultation period into the assessment and redress of PPI complaints, will help ensure that relevant evidence is provided to firms by consumers complaining about their policy.

The consultation paper says: “During the consultation period the FOS will develop a standardised PPI complaint questionnaire for firms to administer to complainants. This will help ensure that relevant evidence is provided to firms by consumers and to consumers by firms, thereby improving firms’ assessment and decisions, as well as helping to ensure that proper investigation of complaints is carried out before any referral to the FOS.”

The FSA says it also hopes the questionnaire will make PPI claims chasers work harder for claimants.

The paper says: “Claims management companies offer to help consumers pursue their complaints with financial services firms and the FOS. In return, the consumer has to pay the company a fee, usually a fixed share of any redress awarded for an upheld complaint.

“The design of a PPI complaint questionnaire will ensure both CMCs and firms do the necessary leg work in setting out and looking into the details of the case, avoiding generic complaints and generic rejections respectively.”

The FSA says the equivalent mortgage endowment questionnaire worked well to this effect.


Playing the field

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Review round-up

Having joined the Investment Management Association last month, I have been struck by the tremendous breadth of its activities. Much of the work that my new colleagues are engaged in concerns the future shape of the industry. There is a huge amount of regulation and associated consultation in hand.


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