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Hunt review manager defends appeal stance

Introducing a formal appeal process for the Financial Ombudsman Service would slow down complaint handling and worsen accessibility to the service, claims Hunt review project manager Chris Kenny.

At Adviser Live 2008, Kenny said although advisers had reacted angrily to Lord Hunt’s refusal to recommend an appeal process, it would only benefit a small number of people.

He said a formal appeal process might encourage parties to seek legal assistance during the complaint resolution process, which should be avoided.

He highlighted the need for a senior position at the FOS responsible solely for maintaining a high quality of decisions and stressed the importance of ensuring that the FOS stays within its remit and does not become a quasi-regulator.

Kenny said: “We expect a good number of our recommendations to be implemented quite quickly. Independent reviews are only as good as the action that follows them.”

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