An article in FT Adviser on 2nd December highlights growing concern over how the Financial Ombudsman Service exercises its discretionary powers, especially around time-barred cases and inconsistent decision making. The article includes views from Panacea’s CEO, Derek Bradley who argues that firms need clearer processes, stronger independent oversight and, critically, a realistic right of appeal that doesn’t require a costly judicial review.

 

With cases such as mortgage prisoners and historic Tenet advice claims raising serious questions about fairness and consistency, the debate over long-stop rules and FOS accountability is gaining momentum.