FOS has published the feedback to its consultation which set out the proposed temporary amendments to the way the FOS reports business-specific complaints data. As a result of the feedback the FOS has confirmed it will be implementing a time-limited change to the way in which it publishes outcome data. The FOS will be going ahead with its proposal to:
- record separately in its business-specific complaints data any complaint proactively settled by a firm before the FOS has issued its opinion on the complaint;
- implement a cut-off date of 31 October 2021 for complaints to be in scope (any complaint deemed chargeable by the FOS on or after 1 November 2021 will not be in scope); and
- revert to how it currently records the outcomes of complaints from 1 April 2022.
The FOS will send firms that qualified for H1 2021 data publication a listing of in-scope cases in the week commencing 1 November. It will then support and work with those firms seeking to use this opportunity to help them settle cases in a fair and reasonable way.