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Financial Ombudsman Service Publishes Annual Review

On 30 May 2018, the Financial Ombudsman Service (“FOS“) published its 2017 / 2018 Annual Review.

Key findings

The key findings arising from the 2017 / 2018 Annual Review are as follows:

  • FOS remains very busy. It has dealt with 339,967 new complaints and resolved 400,658 complaints (including 32,780 Ombudsman decisions).


  • Of those new complaints, 186,418 (55%) related to allegations of PPI mis-selling (down 13% from 2016/2017).
  • 1/4 million + of the FOS resolved complaints were in respect of PPI.
  • 36% of the PPI complaints were upheld by the FOS.
  • 1.6 million PPI complaints have been resolved by the FOS since 2011.

Banking and credit

  • 104,214 (31%) of the new complaints concerned banking and credit issues (up 4% from 2016/2017).
  • 31% of banking and credit complaints were upheld by the FOS.
  • FOS remains concerned that lenders are not doing enough to ensure people’s borrowing is sustainable or are not responding constructively to their customers’ concerns.
  • In comparison to 2016 / 2017, there has been a 146% increase in complaints about home credit and a 64% increase in new complaints about payday loans.
  • 1 in 4 new complaints, other than PPI, involved consumer credit.


  • 36,703 (11%) of the new complaints related to insurance (down 4% from 2016 / 2017).
  • Motor insurance (11,887), building insurance (4,726) and travel insurance (3,174) were the most complained about insurance products.
  • 30% of the insurance complaints were upheld by FOS.
  • The FOS has seen 200 new complaints each month about the price of insurance, with individuals complaining about year-on-year increases in premiums to what they considered to be unacceptable levels. In some cases, FOS agreed that people had paid the price of loyalty.

Investments and pensions

  • 12,632 (4%) of the new complaints related to investments and pensions (down 13% from 2016 / 2017).
  • 28% of investments and pensions complaints were upheld.
  • There was a 37% rise in Self Invested Personal Pensions (“SIPPs“) complaints. SIPPs are now the most complained about pension product that FOS sees.
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About this Author

Garon Anthony, Squire Patton Boggs, litigation attorney

Garon Anthony is a partner in the Litigation Practice Group. He has specialised in dispute resolution work since he qualified as a solicitor and has considerable experience in general corporate and commercial litigation work, acting for both private and public sector clients.

Garon regularly resolves disputes for clients in the financial services/insurance sector. That encompasses professional negligence, fraud issues/recovery processes, dealing with claims and complaints by customers of the mis-selling of retail products, handling insurance policy coverage disputes for corporate...

44 121 222 3507
Mariyam Harunah Debt Recovery Attorney Squire Patton Boggs

Mariyam regularly acts for a diverse client base, including, SMEs, FTSE 100 and 250 corporations, public bodies, developers, insurers and individuals.

Mariyam has experience advising on a wide-range of matters of both a contractual and tortious nature, including breach of contract, breach of warranty, misrepresentation, defamation, professional negligence, debt recovery and insurance.


  • Assisting on an approximately £160 million multi-action and multi-defendant claim following the sale of a company to investor clients.

  • Acting on a variety of disputes for clients seeking the recovery of unpaid monies owed pursuant to contract.

  • Acting on a portfolio of financial mis-selling claims for a leading international bank.

  • Advising a variety of clients upon termination of contract issues.

  • Acting for industrial manufacturers and suppliers in the defence of contractual and tortious disputes with technical complexities, arising out of the provision of allegedly defective products.

  • Assisting in the provision of bespoke and strategic advice to a national regulator dealing with persistent defamation and harassment.

  • Acting for a leading hire purchase provider in enforcement proceedings.

  • Assisting on a £500,000 negligence claim by a leading supermarket arising out of property damage and business interruption at one of its warehouses.

44 121 222 3175