Content Options

View Options

Status: You are viewing the version of the handbook as on 2005-06-30.

DISP 5.10 Leaving the Financial Ombudsman Service

DISP 5.10.1R

Where a firm ceases to be authorised part way through a financial year:

  1. (1)

    it will remain liable to pay standard case fees in respect of chargeable cases against it closed by the Financial Ombudsman Service for the remainder of that financial year; and

  2. (2)

    it must pay the special case fee specified under DISP 5.6.7 Rin respect of any other chargeable cases against it closed by the Financial Ombudsman Service.

DISP 5.10.2G

Firms which cease to be authorised and therefore subject to the Compulsory Jurisdiction part way through the year will not receive a refund of their general levy (or supplementary levy) except in exceptional circumstances. Firms will continue to be liable for any case fees relating to chargeable cases closed by the Financial Ombudsman Service after they cease to be authorised. Firms will be charged the standard case fee where the complaint was closed by the Financial Ombudsman Service before the end of the year in which their authorisation ceased. The special case fee will apply to any complaint closed after the end of that year since the firm will no longer be contributing to the general levy.1