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...

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