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Regulatory enforcement mini-series: should firms be concerned about FOS complaints?

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Contenido proporcionado por Ashurst. Todo el contenido del podcast, incluidos episodios, gráficos y descripciones de podcast, lo carga y proporciona directamente Ashurst o su socio de plataforma de podcast. Si cree que alguien está utilizando su trabajo protegido por derechos de autor sin su permiso, puede seguir el proceso descrito aquí https://es.player.fm/legal.

In our continuing mini-series on regulatory enforcement of financial services firms, we pick out the issues and tackle the trends to watch - with this episode focusing on the UK Financial Ombudsman Service.

Welcome to our latest episode for financial services firms and their senior management. In this mini-series, we explore how regulators and authorities are conducting investigations and handling complaints, and we suggest what might be done differently to ensure the fairness and effectiveness of regulation.

In this episode, Ashurst colleagues Nathan Willmott, Adam Jamieson and Paul Ryan-Brown discuss issues and concerns around the management of Financial Ombudsman Service (FOS) complaints, including the prominence of aggressive claims management companies and the significant impact of certain high-profile FOS decisions, most notably in the motor finance sector.

“What we're seeing is the ability for FOS decisions to effectively reset regulatory standards,” says Paul. “So firms have to take into account FOS decisions in their own complaint handling process.” That’s easier said than done, given how unpredictable FOS decisions can be, but Adam, Nathan and Paul share some pointers to help firms anticipate where the FOS may stand on certain issues. The trio analyse how the current Ombudsman regime works in practice and consider how it could improve its resolution of financial services complaints and decision-making in future.

To make sure you don’t miss the next episodes in this mini-series, subscribe to Ashurst Legal Outlook on Apple Podcasts, Spotify or wherever you get your podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

  continue reading

100 episodios

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iconCompartir
 
Manage episode 423498388 series 3529738
Contenido proporcionado por Ashurst. Todo el contenido del podcast, incluidos episodios, gráficos y descripciones de podcast, lo carga y proporciona directamente Ashurst o su socio de plataforma de podcast. Si cree que alguien está utilizando su trabajo protegido por derechos de autor sin su permiso, puede seguir el proceso descrito aquí https://es.player.fm/legal.

In our continuing mini-series on regulatory enforcement of financial services firms, we pick out the issues and tackle the trends to watch - with this episode focusing on the UK Financial Ombudsman Service.

Welcome to our latest episode for financial services firms and their senior management. In this mini-series, we explore how regulators and authorities are conducting investigations and handling complaints, and we suggest what might be done differently to ensure the fairness and effectiveness of regulation.

In this episode, Ashurst colleagues Nathan Willmott, Adam Jamieson and Paul Ryan-Brown discuss issues and concerns around the management of Financial Ombudsman Service (FOS) complaints, including the prominence of aggressive claims management companies and the significant impact of certain high-profile FOS decisions, most notably in the motor finance sector.

“What we're seeing is the ability for FOS decisions to effectively reset regulatory standards,” says Paul. “So firms have to take into account FOS decisions in their own complaint handling process.” That’s easier said than done, given how unpredictable FOS decisions can be, but Adam, Nathan and Paul share some pointers to help firms anticipate where the FOS may stand on certain issues. The trio analyse how the current Ombudsman regime works in practice and consider how it could improve its resolution of financial services complaints and decision-making in future.

To make sure you don’t miss the next episodes in this mini-series, subscribe to Ashurst Legal Outlook on Apple Podcasts, Spotify or wherever you get your podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.

See omnystudio.com/listener for privacy information.

  continue reading

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