The Financial Services Compensation Scheme (FSCS) is a free and independent service.
It protects consumers when financial companies fail.
If a regulated company, such as a financial adviser, is declared in default and can’t afford to pay your claim, they can step in and pay compensation.
They are fully funded from levies collected from the financial companies which are regulated by the FCA. This is how they are able to pay compensation to consumers.
There are limits to the amount of money they can award, which is also dependent on when you were mis-sold.
You must be eligible under their rules which are formed from the FCA and PRA handbook in order to qualify for compensation.
The Financial Ombudsman Service (FOS) is a free and impartial service. It was set up by Parliament to settle complaints between consumers and businesses that provide financial services.
If you are not satisfied with the way a financial company has handled your complaint or you don’t agree with their response, you can ask the FOS to look at your complaint.
They have the legal power to put things right.
The Pensions Ombudsman (POS) is a free and impartial organisation set up by law to deal with pension complaints. If you are not happy with the way your pension scheme has dealt with a situation, you can ask The POS to investigate it for you and decide how it should be resolved.
The Financial Conduct Authority (FCA) regulate the conduct of companies who provide financial services, as well as the financial markets in the UK.
They are an independent public body and are entirely funded by fees collected from the companies they regulate.
The FCA objective is to provide a degree of protection for consumers and to ensure that the financial markets are protected so as to function optimally to benefit the UK economy. Their work and purpose are defined by the Financial Services and Markets Act 2000.
The FCA register contains the details of firms and individuals authorised by the FCA to provide financial services.
You are not required to use our services to pursue your claim. You can also seek further advice or shop around subject to any time limits within which a claim must be made.
It is possible for you to present the claim for free, either to the firm or person against whom you wish to complain or to the statutory ombudsman (Financial Ombudsman Service or Pension Ombudsman Service) or the Financial Services Compensation Scheme, whichever is applicable to your claim.