DISP 4.2 Standard terms

A VJ participant is subject to these standard terms, which may be amended or supplemented by the Financial Ombudsman Service with the approval of the FCA21.318

By agreeing to participate, a VJ participant also agrees that the Voluntary Jurisdiction covers an act or omission that occurred before the VJ participant was participating in the Voluntary Jurisdiction, whether the act or omission occurred before or after commencement.318

The following rules and guidance apply to VJ participants as part of the standard terms, except where the context requires otherwise:

1. (1)

   DISP 1 (Treating complainants4fairly), except:

   4
   1. (a)

      DISP 1.9 4(Complaints record rule);

      4
   2. (b)

      DISP 1.10 4(Complaints reporting rules);8

      4
   3. (ba)

      DISP 1.10A (Complaints data publication rules); 9

      8
   4. (bb)

      DISP 1.10B (Payment services and electronic money complaints reporting); and9

   5. (c)

      DISP 1.11 4(Lloyd's);

      4
   6. (d)

      DISP 1.1A (Complaints handling requirements for MiFID complaints);23

2. (2)

   DISP 2 (Jurisdiction of the Financial Ombudsman Service), except:

   1. (a)

      DISP 2.3 (Compulsory Jurisdiction); 12

   2. (b)

      DISP 2.7.6(14);12

   3. (c)

      DISP 2.7.6(14A);12

   4. (d)

      DISP 2.7.6(14B); and12

3. (3)

   DISP 3 (Complaint handling4 procedures of the Financial Ombudsman Service).318

   4

The Ombudsman has the same powers to make determinations and awards under the Voluntary Jurisdiction as he has under the Compulsory Jurisdiction (see DISP 3.7 (Awards by the Ombudsman)).

If the complainant accepts the Ombudsman's determination within the time limit specified by the Ombudsman, the determination will be binding on the VJ Participant and may be enforced in court by the complainant.318

The following rules in FEES apply to VJ participants as part of the standard terms, but substituting 'VJ participant' for 'firm':

1. (1)

   FEES 2.2.1 R (late payment) but substituting 'FOS Ltd' for 'the FCA';21

   21
2. (2)

   FEES 2.3.1 R and 2.3.2 R (remission of fees);

3. (3)

   [deleted]24

4. (4)

   FEES 5.3.6 R (general levy) but substituting:

   1. (a)

      'Voluntary Jurisdiction' for 'Compulsory Jurisdiction' ; and

   2. (b)

      'FOS Ltd' for 'the FCA';21

      21
5. (5)

   FEES 5.3.8 R (calculation of general levy) but substituting:24

   1. (a)

      24‘Voluntary Jurisdiction’ for ‘Compulsory Jurisdiction’; and

   2. (b)

      24‘FEES 5 Annex 2R’ for ‘FEES 5 Annex 1R’;

   55
6. (6)

   FEES 5.4.1 R (information) but substituting:

   1. (a)

      'FOS Ltd' for 'the FCA';10

      2121
   2. (b)

      'FEES 5 Annex 2R' for 'FEES 5 Annex 1 R';5 and10

      5
   3. (c)

      the following for FEES 5.4.1R(1):10

      1. (A)

         A VJ participant must provide the FOS Ltd by the end of February each year (or, if the VJ participant has become subject to the Financial Ombudsman Service part way through the financial year, by the date requested by the FOS Ltd) with a statement of:10

         1. (i)

            the total amount of relevant business (measured in accordance with the appropriate tariff base(s)) which it conducted; or10

         2. (ii)

            in the case of firms in industry blocks 2 and 4, the gross written premium for fees purposes as defined in FEES 4 Annex 1AR (unless FEES 5.4.1R(1A) applies),10

      as at or in the year to 31 December of the previous year as appropriate, in relation to the tariff base for each of the relevant industry blocks set out in FEES 5 Annex 2R;10

7. (7)

   FEES 5.5B (case fees);20

   619205
8. (8)

   [deleted]20

   61920
9. (9)

   [deleted]20

   61920
10. (10)

    FEES 5.7.1 R and20 5.7.4R619 but substituting, in FEES 5.7.1 R, 'the FOS Ltd'619 for ' the FCA'21 and 'annual levy specified in FEES 5 Annex 2R' for 'general levy';619

    206192021
11. (11)

    FEES 5.3.8AR;

    24
12. (12)

    FEES 5 Annex 2R and 318FEES 5 Annex 3R11; and

    55
13. (13)

    11FEES 5.1.8 R.

A VJ participant may not withdraw from the Voluntary Jurisdiction unless:

1. (1)

   the VJ participant has submitted to FOS Ltd a written plan for:

   1. (a)

      notifying its existing customers of its intention to withdraw; and

   2. (b)

      handling complaints against it before its withdrawal;

2. (2)

   the VJ participant has paid the general levy for the year in which it withdraws and any other fees payable; and

3. (3)

   FOS Ltd has approved in writing both the VJ Participant's plan and the date of withdrawal (which must be at least six months from the date of the approval of the plan).318

None of the following is to be liable in damages for anything done or omitted to be done in the discharge (or purported discharge) of any functions in connection with the Voluntary Jurisdiction:

1. (1)

   FOS Ltd;

2. (2)

   any member of its governing body;

3. (3)

   any member of its staff;

4. (4)

   any person acting as an Ombudsman for the purposes of the Financial Ombudsman Service;

except where:

1. (5)

   the act or omission is shown to have been in bad faith; or

2. (6)

   it would prevent an award of damages being made in respect of an act or omission on the ground that the act or omission was unlawful as a result of section 6(1) of the Human Rights Act 1998.318