FCA Consultation on Fees & Levies for 2024/25

Members may have seen that the FCA issued their annual consultation on the fees charged to firms on Tuesday 9th March – AMI comments…

Consumer Duty has made vulnerability about ‘characteristics’ rather than ‘binary’

Chloe Timperley’s comments from the British Specialist Lending Senate 2024 regulatory expectations around vulnerability…

Your March update from AMI Chief Executive Robert Sinclair

AMI Chief Executive Robert Sinclair gives his March update, including the Mortgage Charter and the FCA annual business plan…

Sexism in the City feedback: recommendations for firms

The feedback report for the September Sexism in the City paper has been released. We are cited in the report, relating to our event code of conduct…

AI will not replace ‘divergent or creative’ thinking

Chloe Timperley’s comments from the British Specialist Lending Senate 2024 on generative AI and regulatory expectations around vulnerability…

Mortgage Brokers: The climate is changing, should you?

The Mortgage Climate Action Group (MCAG) is delighted to invite you to its upcoming webinar: ‘The Climate is Changing, Should You?’ on 18th March at 10am…

Edit Content

Log in here for full access to all our great content


Please log in below with your username (which is your email address), using all lower-case letters.


Forgotten your password?
No problem, simply tell us you have forgotten your password to receive instructions instantly via email.

Having problems logging in?
If you are a current member but are unable to login, please first make sure you are using all lower-case letters for your username/email address. If you still have difficulties, please contact us via email at info@a-m-i.org.uk so we can rectify your problem.

Not a member?
Learn more about the benefits of becoming a member or apply online and we will be in touch.

Financial Ombudsman Service (FOS) – Future funding


FOS has released feedback to its discussion paper on future funding. In its 2023/24 Plans and Budget consultation (due in December 2022) it will consult on proposals to change the compulsory jurisdiction levy and voluntary jurisdiction levy to recover fixed costs; introduce a 12-month time limit for disputing fee cases and will trial changes to the group fee account arrangements.

Looking further forward, it plans to consult in its 2024/25 Plans and Budget consultation on proposals to differentiate case fees by case stage and/or by product type and charging and initial case fee at conversion.

It’s decided not to pursue the following proposals: making legislative changes to enable it to charge professional representatives (such as CMCs) to bring complaints to the service; charging businesses for delays due to non-compliance; discounts for bulk closures; and charging case fees based on case complexity.

AMI’s view

AMI is supportive of the FOS levy reflecting the service’s fixed costs (such as IT, property, and other support functions); this ensures greater transparency as the case fee will recover FOS’s costs more closely related to the costs to resolve cases (such as salaries of casework colleagues).

We are, however, concerned that FOS is exploring the possibility of charging different case fees dependent on the stage a complaint reaches. In AMI’s view, if a case goes all the way to an ombudsman, it isn’t necessarily a sign the case is more complex, it could just be that the consumer (or CMC, if involved) is more motivated to keep escalating (especially as there is no risk to the complainant for rejecting a decision). Whereas a firm may be less reluctant to allow the case to reach the next stage, unless it feels it has a strong case. It could also prevent valuable Consumer Duty cases from reaching ombudsman stage, which other firms could benefit and learn from.

We eagerly await the results of FOS’s data modelling (which is being carried out over the next 12 months) to help us provide feedback on this proposal as part of the FOS 2024/25 Plans and Budget consultation.

We will respond to the 2023/24 Plans and Budget consultation once issued.


Forgot Password?

Join Us