The Financial Ombudsman Service (FOS) is expecting to deal with 4,000 more fraud and scam cases in the banking and loan sector over the next 12 months - a rise of over 12%.

Change management specialist Marc Harris has joined the Financial Ombudsman Service (FOS) as its new chief operating officer.

The Financial Ombudsman Services will freeze case fees and levies for firms for the 2025/26 financial year.

The number of complaints received by the Financial Ombudsman Service climbed by more than 50% in the last three months.

The Financial Ombudsman Service (FOS) received 485 new complaints about wealth manager St James’s Place in the first half of 2024 - almost double the previous half year - despite total complaints for the pensions and investments sectors falling.

The percentage of professional complaints about pensions and annuities to the Financial Ombudsman Service - including from claims management companies -  showed a surprise fall in the latest quarterly period, in marked contrast to a surge in professional complaints overall.