The regulator also pointed out that there has been an extension of the scope of the Financial Ombudsman Service in terms of both increasing the coverage to include many more small to medium enterprises and an increase in the amount that can be awarded in such cases by the Fos.
The changes on SME coverage mean about 210,000 additional firms have access to the Fos process.
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The FCA stated these were "very important" changes and stressed it will continue to closely monitor the sector and the complaints process to ensure that are put right.
imogen.tew@ft.com
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