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Financial services regulatory round-up: FOS budget and award limits, mortgage LTI proposals, AI supervision, gilt repo resilience, consolidated tapes, resolution and deposit reforms, ESG stress tests, payments strategy

Published on: 01 April 2026

Published by a LexisNexis Financial Services expert
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Financial services developments FOS publishes plans and budget for 2026/27, as award limits rise

The Financial Ombudsman Service (FOS) has set out its plans and budget for the 2026/27 year. From 1 April 2026, the compulsory levy is fixed at £86m. Firms responding to complaints will face a £680 case fee, while professional representatives will be charged £80 for referrals that are upheld for the consumers they act for. Where an outcome favours the firm, professional representatives will be billed £260 and the firm’s case fee will fall to £500. These tariffs mirror those trailed in the plans and budget consultation. The Financial Conduct Authority (FCA) has also confirmed that, from 1 April 2026, the FOS award limits will increase to £455,000 for complaints about acts or omissions by firms on or after 1 April 2019 (up £10,000 on the previous year), and to £205,000 for complaints about acts or omissions before 1 April 2019 (a rise of £5,000 on the prior year). The FOS expects 199,000 new complaints in the next year, down from nearly 306,000 in 2024/25, and from roughly 210,000 in 2025/26...

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