FEES 5.9 Leaving the Financial Ombudsman Service

Firms which cease to be authorised and therefore subject to the Compulsory Jurisdiction part way through the year will not receive a refund of their general levy except in exceptional circumstances. Firms and payment service providers 6will continue to be liable for any case fees relating to chargeable cases closed by the Financial Ombudsman Service after they cease to be authorised, or cease to be payment service providers.6 Firms and payment service providers 6will be charged the standard case fee where the complaint was closed by the Financial Ombudsman Service before the end of the year in which their authorisation ceased or, as the case may be, they ceased to be payment service providers6. The special case fee will apply to any complaint closed after the end of that year since the firm or payment service provider 6will no longer be contributing to the general levy.

5Licensees will also continue to be liable for any case fees relating to chargeable cases closed by the Financial Ombudsman Service after they cease to be licensees. Licensees will be charged the standard case fee where the complaint was closed by the Financial Ombudsman Service before the end of the year in which they ceased to be licensees. The special case fee will apply to any complaint closed after the end of that year since the licensee will no longer be contributing to any sum determined under section 234A of the Act.