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Financial Ombudsman Service plans to extend it’s services to small and medium sized SME’s?

Were you aware that the Financial Ombudsman Service plans to extend it’s services to small and medium sized SME’s? This was announced by the FCA (Financial Conduct Authority) in October and plans are in place for this to be implemented by April 2019.

The changes will mean that SMEs with an annual turnover below £6.5 million and fewer than 50 employees, or an annual balance sheet below £5 million, will now be able to refer unresolved complaints to the ombudsman service.

For further information on this, see the article below by the Financial Conduct Authority (FCA)

https://www.fca.org.uk/news/press-releases/fca-confirms-greater-access-smes-financial-ombudsman-service

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