How does the FOS determine a complaint?
The FOS’s decisions are based on what is ‘fair and reasonable’. In deciding what is ‘fair and reasonable’, the ombudsman will take into account the relevant law, regulations, regulators’ rules and guidance and standards, relevant codes of practice and, where appropriate, what he considers to have been good industry practice at the relevant time. The ombudsman’s decisions are binding on firms if a complainant accepts them. Once a complaint is made to the FOS it is generally dealt with in up to three stages: • Conciliation: FOS staff will see if there is any reasonable prospect of resolving the dispute by reaching a settlement acceptable to both sides. The majority of complaints are in fact resolved in this way. • Otherwise, FOS staff will investigate the complaint. They have the power to require information from the complainant and the firm. They then issue an adjudication setting out a recommended outcome and the reasons for it. If both the complainant and the firm accept the adjudicat
