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FSA proposes no change on FSCS and FOS limits


The FSA has proposed making no change to the compensation and Ombudsman payment limits.

The regulator has announced the findings of its review of the compensation and eligibility limits of the FSCS and for the compulsory jurisdiction of the FOS.

The key findings of the review are that most claims or complaints are still well below the current maximum limits. It says there is no evidence that consumer behaviour and market confidence are being significantly affected by current limits.

The regulators work has shown there is a very wide range of views among stakeholders and the FSA is consulting on some specific issues. It will discuss whether the maximum limit for the ombudsman awards from the current 100,000 to 200,000 pounds.

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