Financial Ombudsman - Can they disregard the FCA Rules and the Law of the Land?

Undervalued

MyRealNameToo said:

Ricecrispies said:

But this was a few lines in the context of several pages of submissions about the issue we were looking into and at no point did you ask us to raise this as a further complaint.'

This is a major part of your problem, you've waffled, included a lot of unnecessary details and descended into long detouring rants meaning some poor investigator has to try to work out from the pages of words you send what are actually the salient points. 

If it's more than a page in length, it's too long. If it's more than half a page you should be looking to cut it back. 


Secondly, to answer your other question, no the FOS doesnt have to blindly follow the law. Search for S75 decisions and you will often see them explain that they are legally obliged to find fair decisions and their decisions may well be different to what a court of law would decide.

Ricecrispies said:
My complaint was regarding the actions of a bank.  The Ombudsman is funded by banks.  I wonder if I am just unlucky or has anyone else had a similar experience?

Ombudsman has to be funded by someone and so they are funded by financial services companies but they have a legal duty and so are far from biased towards the FS companies... most would argue because they can diverge from what the law strictly states that they are much more customer leaning. 

Plenty of people who write dozens of pages of complaint will be in the same boat but it was a self inflicted problem

Agree with the others that the DRN reference would be useful, I assume its https://www.financial-ombudsman.org.uk/decision/DRN-5244681.pdf

^^^^^^^^ Exactly this!