Judicial reviews will rise after FOS award change, warns law firm

p16-cash

The FSA has stated that the limit will rise on 1 January 2012 from its current level of £100,000.

Jonathan Newbold, a specialist in financial services and dispute resolution at law firm Browne Jacobson, commented: "Now that more money will be at stake when the FOS determines complaints there are likely to be more attempts to challenge its decisions.

"It will be interesting to see if the courts will be able to find a way through the FOS's very wide statutory authority derived from the Financial

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