The Financial Ombudsman Service is forecasting that the number of complaints it is set to receive this year will hit 210,000 - nearly 30,000 higher than it predicted in December.

There was a near 10,000 rise in the number of complaints about SIPPs and non-workplace pensions in the first half of 2023, according to the latest FCA Complaints Data report.

The FSCS has declared three financial adviser firms as failed, opening the door to compensation claims from ex-clients.

The Financial Ombudsman Service is to freeze its individual case fee at £750 for a third year as its strives to reduce the financial strain of its services on regulated firms.

The consumer complaints body the Financial Ombudsman Service is to increase its maximum compensation award from £375,000 to £415,00 from 1 April.

The number of complaints about life and pension and investment companies fell by 8% during 2022, according to the latest data from the Financial Ombudsman Service.

The Financial Ombudsman Service’s uphold rate has remained steady at 35% despite a rise in complaints about financial products.

The FSCS has declared pension transfer adviser Portal Financial Services LLP (FRN501272) as failed after the firm went into compulsory liquidation following a string of complaints.

The Financial Ombudsman Service plans to freeze its fees for 2023/24 at this year’s level due to the economic pressures facing firms.

In its latest complaints data the Financial Ombudsman Service says that nearly half of the complaints it received about unregulated collective investment schemes (UCIS) were related to SIPPs.