‘What to expect during Dispute Resolution’ video transcript
Dispute Resolution is a confidential mediation service provided by the Financial Services and Pensions Ombudsman, or FSPO. We facilitate the process between you and your financial service provider or pension provider. Our aim is to help you and your provider to design and agree a solution you are both satisfied with.
Mediation is voluntary and completely confidential. We ask that all parties who enter the mediation process have a genuine intention to try to resolve the complaint. However, the process can be ended by any party at any time.
So, how does mediation work?
Mediation begins on the telephone and if needed, the FSPO mediator will invite both you and your provider to attend a meeting. We will discuss your complaint with you and your provider and explore how you both consider it could be resolved and aim to help you to reach an agreement.
The outcome of mediation will usually be one of three things:
- A settlement is agreed between you and your provider.
- You receive clarification from your provider around the issues you raised, which solves your complaint.
- If you don’t reach a settlement, your complaint may be transferred within the FSPO to formal investigation.
The investigation process is a detailed gathering of all evidence and leads to a legally binding decision.
During the Dispute Resolution process, we may identify issues which might stop your complaint proceeding to the formal investigation process.
