Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what assessment he has made of the potential merits of increasing the time limit for complaints to be referred to the Financial Ombudsman Service from 6 months to 12 months in line with other ombudsman services.

The time limits for complaints to be referred to the Financial Ombudsman Service are a matter for the Financial Conduct Authority.

The current rules require the consumer to submit their complaint to the Financial Ombudsman Service within six months of receiving a final response from the firm. However, complaints can still be referred to the ombudsman service more than six months after receiving a final response with the consent of the firm.

The time limit for referring a complaint to the ombudsman service, where the firm does not issue a final response, is six years from the date of the event, or (if later) three years from the date the consumer knew, or could reasonably have known, they had cause to complain.