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The head of the United Kingdom’s financial service unexpectedly resigned Thursday in the midst of a major examination of the consumer repair system in the financial services sector.
The departure of Abby Thomas, who has directed the Ombudsman since October 2022, comes as the government intensifies pressure on all the main regulators of Great Britain to facilitate the burden of the rules on companies in order to stimulate the ‘Trusting economy of the country.
The mediator aroused criticism from the city of London for granting remuneration to customers who say they have been mistreated by financial services groups, which, according to industry leaders, dissuades foreign investors from the sector.
Chancellor Rachel Reeves last year called last year Fos and the financial conduct authority to improve the way they manage “the events of practice of the historic market and mass repair” in the midst of fears that banks should pay billions of pounds poorly sold sales allegations of automotive financing.
The FOS and the FCA described the potential modifications of the financial repair system in November, in particular by giving longer companies to respond to customer complaints and reducing the scope to appeal against the decisions of the Ombudsman. A consultation closed last Friday, with proposals expected in the first half of this year.
Thomas has been replaced on a provisional basis by his assistant James Dipple-Johnstone taking over the role of chief mediator, with the finance chief and the risk manager Jenny Simmonds becoming Managing Director.
