FOS confirms proactively settled complaints to continue

The FOS has confirmed that the trial of the “proactive settlement” system that allows firms to offer to settle complaints before a full FOS investigation has worked well, and will continue. It has, though, introduced a few changes that take effect from 24 June. From that date, there is a 14 days from when the case moves to investigation for firms to both make an offer and notify the FOS – the FOS thinks this is simpler than the current 14 day notification with 21 day offer process.

Emma Radmore