questionText: To ask the Chancellor of the Exchequer, what assessment she has made of the effectiveness of the (a) Financial Conduct Authority and (b) Financial Ombudsman Service’s recent changes to compensatory interest.
answerText: The Financial Ombudsman Service (FOS) is responsible for setting the interest rate it applies to awards. Following consultation, the FOS has confirmed that it will change the interest rate that it applies to some compensation awards, moving from the curre...
heading: Financial Services: Compensation