Related provisions for DISP 3.5.14
1 - 5 of 5 items.
Where a complaint is determined in favour of the complainant, the Ombudsman's determination may include one or more of the following:16(1) a money award against the respondent; or1616(2) an interest award against the respondent; or1616(3) a costs award against the respondent; or1616(4) a direction to the respondent.16
Except in relation to a “relevant complaint” within the meaning of section 404B(3) of the Act9, a8 money award may be such amount as the Ombudsman considers to be fair compensation for one or more of the following:8(1) financial loss (including consequential or prospective loss); or(2) pain and suffering; or(3) damage to reputation; or(4) distress or inconvenience;whether or not a court would award compensation.16
16Where the Ombudsman is determining what amount (if any) constitutes fair compensation as a money award in relation to a relevant new complaint or a relevant transitional complaint, the Ombudsman Transitional Order and the Mortgages and General Insurance Complaints Transitional Order require him to take into account what amount (if any) might have been expected to be awarded by way of compensation in relation to an equivalent complaint dealt with under the former scheme in question
Where a MiFID complaint against a MiFID investment firm is referred to the Financial Ombudsman Service, the MiFID investment firm must cooperate fully with the Financial Ombudsman Service and comply promptly with any settlements or awards made by it. [Note: subject to a few minor changes reflecting its amended application, this provision replicates DISP 1.4.4R.]