The BSA has responded to the Financial Ombudsman Service consultation Our 2025/26 Plans and Budget.

Key points in our response:

• The BSA welcomes the continued drive for operational efficiencies at the FOS.
• We support the proposals not to increase the case fee and levies.
• We argue that professional representatives (and claims management companies) should be liable for the same level of case fee as businesses rather than the budget assumption in the 2025/26 CP that they will only be liable for £250. We hope the FOS Board takes on board the points made in our response to their consultation Charging claims management companies and other professional representatives (May 2024 consultation) before making any final rules on this matter.