Client briefing: Modernising the redress system: the Financial Ombudsman's final decisions
New Financial Ombudsman rules will affect complaint handling, prior reviews and the evidence firms need to keep
The Financial Ombudsman Service has published its final policy statement on modernising the redress system, with key changes taking effect from 1 October 2026. These include new grounds for dismissing complaints, changes to the fair and reasonable test and new case management rules. The proposed registration stage has been deferred until at least April 2027.
For firms, the quality of complaint reviews and the records behind them will carry added weight. Where a firm seeks to rely on a prior review, it will need to show the regulatory standard applied, the scope of the review and how the customer’s own circumstances were considered.
Our latest client briefing looks at what changes on 1 October, what remains open and the practical points firms should be preparing for now.
Auxillias is already supporting clients with the legal, compliance and operational work arising from the reforms. If you need help preparing for the new rules, please get in touch via the contact details on this page.
Download the full briefing:
