Financial Ombudsman Service Floats Changes To Levy Use
By Irene Madongo (June 15, 2022, 2:36 PM BST) -- Britain's financial dispute-resolution body has proposed using the fees companies pay toward its financing to cover its rent bills as it considers revising its funding model.
The Financial Ombudsman Service published a discussion paper Tuesday about possibly making changes to its funding model, which includes a levy that companies in the financial services sector pay, as well as case fees that firms pay once a case that was against them has been closed.
The levy comprises payments received from a group of firms that must pay the levy, referred to as the "compulsory jurisdiction," and payments from those companies outside this...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!