Consumer champion.

Walter Merricks, the first Financial Services Ombudsman, talks to Tim Collison about how he plans to merge the eight current ombudsmen into one single super scheme.

As the first Financial Services Ombudsman, Walter Merricks certainly
has his work cut out. Over the next 12 months he has to find new premises,
move in all the staff from the eight current ombudsman schemes, merge all
the schemes into one, put together a new management structure and get a
new IT system up and running. "Frankly, I don't think anyone in the
commercial world with their head screwed on would attempt it," sighs Mr
Merricks.


But from the beginning of this month, former Insurance

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FSCS gives first insight on increasing levy to £394m

The Financial Services Compensation Scheme has indicated its levy for 2025/26 will rise to £394m from £265m this financial year as it cited having lower surpluses to carry forward and offset bills – a factor that has benefited brokers for two years in a row.

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