We welcome the Financial Ombudsman Service's (FOS's) consultation on the potential to charge fees to Claims Management Companies and other professional representatives. 

Whilst recognising the value to consumers that can be derived from consumers engaging reputable CMCs or other representation, particularly in complex matters, we believe that this consultation is long overdue. Some of the facts and statistics laid out in the consultation serve to emphasise that there is a need for change.

The BSA strongly supports the principle of charging a fee to CMCs.

Download the BSA's response here.