The Financial Ombudsman

 

We pay annual fees to the Financial Conduct Authority (FCA) to cover
their services and those of the Financial Ombudsman Service and
Financial Services Compensation Scheme etc. These fees are, in part,
based upon the turnover size of the companies to whom we provide
regulated activity/services.

The FCA expects larger companies to have more dedicated resource to deal with insurance matters and therefore fees for regulating intermediaries to provide a service to these larger companies are lower than the fees for providing regulated services to smaller companies who are more reliant on the advice given to them by intermediaries.

It is important therefore that we do try and obtain this
information as accurately as possible. You are not obliged to provide this
information, but it would be appreciated. More information is available on the FCA’s website: https://www.fca.org.uk/firms/fees