Related provisions for DISP 3.7.2B

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Where a complaint is determined in favour of the complainant, the Ombudsman's determination may include one or more of the following:17(1) a money award against the respondent; or1717(2) an interest award against the respondent; or1717(3) a costs award against the respondent; or1717(4) a direction to the respondent.17
Except in relation to a “relevant complaint” within the meaning of section 404B(3) of the Act10, a9 money award may be such amount as the Ombudsman considers to be fair compensation for one or more of the following:9(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.17
9In relation to a “relevant complaint” within the meaning of section 404B(3) of the Act10, a money award is a payment of such amount as the Ombudsman determines that a respondent should make (or should have made) to a complainant under the scheme.
17Where 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

17The maximum money award which the Ombudsman may make is £150,000.28

3The effect of section 404B(5) of the Act is that the maximum award which the Ombudsman may make also applies in relation to a “relevant complaint” within the meaning of section 404B(3) of the Act.10
17For the purpose of calculating the maximum money award, the following are excluded:(1) any interest awarded on the amount payable under a money award;(2) any costs awarded; and(3) any interest awarded on costs.
17The Ombudsman will maintain a register of each money award.
17 Except in relation to a “relevant complaint” within the meaning of section 404B(3) of the Act10, an9 interest award may provide for the amount payable under the money award to bear interest at a rate and as from a date specified in the award.9
9A money award under DISP 3.7.2A G may provide for interest to be payable, at a rate specified in the award, on any amount which is not paid by the date specified in the award.
17A costs award may:(1) be such amount as the Ombudsman considers to be fair, to cover some or all of the costs which were reasonably incurred by the complainant in respect of the complaint; and(2) include interest on that amount at a rate and as from a date specified in the award.
DISP 3.7.10GRP
17In most cases complainants should not need to have professional advisers to bring complaints to the Financial Ombudsman Service, so awards of costs are unlikely to be common.
DISP 3.7.12RRP
17A respondent must comply promptly with:(1) any award or direction made by the Ombudsman; and(2) any settlement which it agrees at an earlier stage of the procedures.
DISP 3.7.13GRP
17Under the Act, a complainant can enforce through the courts a money award registered by the Ombudsman or a direction made by the Ombudsman.
The Ombudsman has the same powers to make determinations and awards under the Voluntary Jurisdiction as he has under the Compulsory Jurisdiction (see DISP 3.7 (Awards by the Ombudsman)).314
None of the following is to be liable in damages for anything done or omitted to be done in the discharge (or purported discharge) of any functions in connection with the Voluntary Jurisdiction:314(1) FOS Ltd;(2) any member of its governing body;(3) any member of its staff;(4) any person acting as an Ombudsman for the purposes of the Financial Ombudsman Service;except where:(5) the act or omission is shown to have been in bad faith; or(6) it would prevent an award of damages being
The purpose of this chapter is to set out:(1) the procedures of the Financial Ombudsman Service for investigating and determining complaints;(2) the basis on which the Ombudsman makes decisions; and(3) the awards which the Ombudsman can make.49
Where a complaint against a respondent is referred to the Financial Ombudsman Service, the respondent must cooperate fully with the Financial Ombudsman Service and comply promptly with any settlements or awards made by it.1
Where a complainant makes complaints against more than one respondent in respect of connected circumstances, the Ombudsman may determine that the respondents must contribute towards the overall award in the proportion that the Ombudsman considers appropriate.17
The contract of professional indemnity insurance must incorporate terms which make provision for:(1) cover in respect of claims for which a firm may be liable as a result of the conduct of itself, its employees and its appointed representatives (acting within the scope of their appointment);(2) the minimum limits of indemnity per year set out in this section;(3) an excess as set out in this section;(4) appropriate cover in respect of legal defence costs;(5) continuous cover in
DISP 3.5.14RRP
15If a respondent fails to comply with a time limit, the Ombudsman may:(1) proceed with consideration of the complaint; and(2) include provision for any material distress or material inconvenience caused by that failure in any award which he decides to make.