The Consumer Panel welcomes publication of complaints data by the Financial Ombudsman as a vital step in making financial regulation more transparent. People will be able to make more informed choices and see where there may be problem areas developing, as they will be able to see complaints by different firm and by category (such as mortgages and home finance; investments; and general insurance).
Adam Phillips Chairman of the Financial Services Consumer Panel said:
"At last consumers will be able to see for themselves how well financial services look after their customers. Publication of this data should also encourage the industry to improve, as customers will be able to see which firms treat their customers better. "
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