The head of the United Kingdom’s financial grievances is unexpectedly resigned

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On Thursday, the head of the service of the Secretary of Financial Grievances in the United Kingdom resigned in the middle of a major review of the consumer compensation system in the financial services sector.

The departure of Abe Thomas, who has managed the Secretary of Grievances since October 2022, comes at a time when the government pressures all major organizers in Britain to alleviate the burden of bases on companies in an attempt to increase the economy of the Council.

Thomas was under pressure to take a less convenient approach to the consumer, according to one person familiar with the issue, who said that the Council of Grievances feels frustrated from its initial frequency in starting to impose fees on claims management companies to bring cases.

The person also indicated that the council was “less than Blaise in his praise” to Thomas, after his Baroneh President Zaida Manzur said in a statement: “On behalf of the Council and the executive authority, I would like to register our thanks and wishes, my father, every success in its future career.”

Grievance Secretary has attracted criticism from the city of London to give him compensation to customers who say they have been illuminated by financial services groups, which executive managers in the industry say foreign investors are from this sector.

The bank’s executive officials claim that the “compensation culture” in the United Kingdom is one of the main factors that deter investors and weigh financial services companies.

“Abe and the Secretary of Grievances have been under fire in recent months,” said James Dali, head of the consumer group.

“It may be that it is leaving a protest against the direction of travel. If so, this is incredibly worrying and perhaps the most powerful indication so far that the cabinet is serious in relieving consumer protection.”

Thomas and FOS were contacted to comment.

Thomas was replaced by a temporary basis by her deputy, James Dibl-Gonston, who assumed the role of the main grievance secretary, as he became the chief financing and risk employee Jenny Simmonds, CEO.

Chancellor Rachel Reeves summoned last year fos And the authority of financial behavior to improve how they deal with “historical market exercise and collective remedial events” amid fears that banks must pay billions of pounds. Car financing sales allegations.

The outgoing CEO was scheduled to appear in front of the Mukhtar Treasury Committee in Parliament next Tuesday in a hearing on the auto financing crisis. But the deputies said on Thursday that they would instead ask Dibel Johnston as well as Baroneh Manzur.

The committee said that the deputies “may choose to explore the conditions” of their exit, in addition to studying “to what extent that the ongoing legal procedures related to the auto financing and commissions sector affect the FOS.”

FOS and FCA have determined the potential changes on the November Financial Recovery System, including giving companies longer to respond to customer complaints and reduce the range of appeal against the decisions of the Secretary of Grievances. I closed a consultation last Friday, with expected suggestions in the first half of this year.

“It is clear that this part of the regulatory system does not work as efficiently as possible, which creates great uncertainty in the framework, and thus work as a arc on the investor’s call to financial services in the United Kingdom.”

“The companies that are compatible with FCA rules can still find themselves involved in the events of collective recession,” said the Fund and Leasing Association, in its response, adding that this is “organizational uncertainty”, provides additional risks to market operators and harms economic growth.