The move, included in today’s Treasury white paper, will go further than current Financial Ombudsman Service plans to publish specific data on firms with high levels of complaints, which begins in the Autumn.
From September, the FOS will publish complaint data every six months for every firm that has at least 30 new and closed cases during the period.
But today’s paper says: “The FSA will shortly be consulting on a proposal to require firms to publish their own complaints data.”
Will the publication of complaints data misrepresent firms who have had unwarranted complaints about investment performance, or will it provide a good sounding board for consumers to compare firms and advisers?
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