Accountability — April 2014: when can you bring a court claim that has already been the subject of a decision by the FOS?
When can you bring a court claim that has already been the subject of a decision by the Financial Ombudsman Service (FOS)?
According to the Court of Appeal decision in Clark v In Focus Asset Management  EWCA Civ 118, only where the claim arises out of a completely different set of facts or where the complainant has rejected the FOS decision. No longer are financial services firms and their insurers facing ‘double jeopardy’ in relation to claims that have already been determined by the FOS.
The FOS determines complaints by consumers and small businesses against financial services firms up to a value of £150,000. Once a final decision has been given by the FOS, which is accepted by the complainant, that decision is binding upon the firm…
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