Financial Ombudsman Service and FCA move to modernise redress system
15 November 2024
We launch a ‘Call for Input’ jointly with the Financial Conduct Authority (FCA) to create stability for consumers and businesses.
Following a companywide vote, Sands, the UK’s leading pregnancy and baby loss charity, was chosen to be supported over the next two years.
This announcement follows the conclusion of support for Kidney Research UK from 2022 to 2024. During this time, we raised over £20,000 to further fund research into kidney disease. Employees took part in a range of challenges and activities including bungee jumps and bake sales, as well as volunteering at Kidney Research’s flagship events, such as the London Bridges Walk and Glastonbury.
The new charity partnership with Sands will aim to raise funds to support their vital work saving babies’ lives and supporting bereaved families. Our employee-led Giving Something Back committee, which is responsible for coordinating and championing opportunities to work with charity partners, will lead fundraising initiatives over the next two years.
As part of the partnership, Sands will provide workplace training to ensure our staff are well equipped to support those who have experienced pregnancy or baby loss.
In the UK 50% of adults said that they, or someone they know, has experienced at least one form of pregnancy or baby loss. Sands works to save babies' lives and ensure that, when a baby does die, anyone affected gets the support and care they need.
Abby Thomas, Chief Executive and Chief Ombudsman at the Financial Ombudsman Service, said:
We are delighted to be supporting Sands in their mission to support parents affected by the devastating loss of a baby, whilst also working to save the lives of babies through vital research and awareness raising.
Our employees have chosen Sands as their charity partner and I’m excited to see us all get behind this truly important cause and raise much needed funds.”
Victoria Luk, Head of Partnerships and Philanthropy at Sands, said:
A big thank you to all the employees at the Financial Ombudsman Service who chose Sands as their charity partner. We are determined to save every life we can, and we will make sure the right care and support is there for every bereaved family, whenever and wherever they need it. Your support can help make that happen.”
We were set up by Parliament to resolve individual disputes between financial businesses and their customers on a fair and reasonable basis, as a free alternative to the courts. We can investigate complaints relating to most types of money matters. We are committed to sharing insight and experience to encourage fairness and confidence in financial services.
We are committed to supporting and investing in our people to provide the best service they can to customers. Last year, we opened a new Customer Call Hub in their Coventry office and expanded to other parts of the UK, such as the North West and Scotland. We are committed to building a positive environment by listening to feedback from employees to shape their development, values and service delivery.
Every day in the UK, 13 babies are stillborn or die shortly after birth. And at least 15% of pregnancies end in miscarriage.
Sands is the UK’s leading charity working to save babies’ lives and support bereaved families. Sands’ vision is a world where fewer babies die and when a baby does die, anyone affected receives the best possible care and support for as long as it is needed.
Sands is here for anyone affected by pregnancy loss or the death of a baby. The charity provides bereavement support services both nationally through its Freephone helpline, online community and resources, and locally through a network of around 110 regional support groups based across the UK and run by trained befrienders.
Sands works in partnership with health care professionals, trusts and health boards and offers a range of training programmes and bereavement care resources to ensure that every bereaved parent and family receives the best possible care wherever they are in the UK.
Sands supports and promotes research to better understand the causes of baby deaths and save babies’ lives. The charity also raises awareness of baby loss and works with governments, key influencers and other stakeholders to make reducing the number of babies dying a priority nationally and locally.
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