Speeches by Glen.

“It must be very difficult to predict how to respond when you have such moving factors influencing the inputs.”

“That is really helpful. Thank you.”

“It is ambiguity, which is difficult for business and consumers.”

“Do you mean more than you have at the moment?”

“What I am getting at is that if the FCA does a retrospective review of a certain commission payments mechanism or whatever, but leaves the fix ambiguous, it begs the question of how you resolve these matters plainly, clearly and unambiguously if you have an ambiguity in terms of the outcome of that evaluation. Is that …”

“What I am trying to get at is that the demand for your service is generated by heightened consumer awareness, and also regulating the FCA’s activities, sometimes in respect of historic issues—”

“Baroness Manzoor, before you turn to your colleague, can I ask you to reflect on what is driving this increase? It is a massive increase, and any organisation dealing with such a massive increase in a short timeframe is going to struggle. You have helpfully given us the figures on processing times, but what is driving …”

“Can we turn to the caseloads at FOS? The figures seem to indicate a massive increase: 40% up in the first half of 2024 as compared to the first half of 2023. As we get into the organisation and what is going on, could you describe to us what you think is happening in terms of the caseload and where these significant in…”

“Yes, but not very long in the chief executive role.”

“Can I follow up here? Two years after you came into position, Caroline Wayman left, and two and a half years later the next chief executive left. People looking at this organisation from outside will say, “Sometimes there is somebody who is not meeting the grade and just moves on—find a replacement—but in such a short …”

“But you have had the most experience over six years.”

“I am not going to pursue this same line again, because you have said what you have said, but when you were appointed, I was involved in that appointment, as you know. You had a long record of public service in similar roles in other organisations. People will draw their own conclusions of two short tenures of chief exe…”

“Can I clarify? Baroness Manzoor, I understand what you said about the distinct independence of the ombudsman and the service you provide. That is critical for the consumer’s confidence in it, but the caseload and the activities that you are essentially given to deal with is fundamentally conditioned by decisions of the…”

“Can we turn to the highly topical issue of growth? In the Mansion House speech, the Chancellor said that the Treasury had been working closely with the FSA and the FOS to develop a new agreement. When Dame Harriett Baldwin asked you earlier, you said that you had not had direct contact. I just wonder, given your signif…”

“As you will have anticipated, we had the chief exec of the FCA come here a few weeks ago, or probably a few months ago. He drew out the distinction with a US model, where it is very rules-based and, to put it crudely, they get on with it more quickly, but, if they do not get it right, six months later, they come down v…”

“Can I ask about the effect of this ongoing uncertainty around car finance? The Treasury has talked about the need for proportionate compensation, but presumably the uncertainties there will also have a negative effect on the number of companies that are prepared to get involved in car financing. Do you recognise that?”

“Can you clarify what is happening between yourselves and the FCA in terms of an input to the Government’s and the Chancellor’s process of review? Can you tell us what is happening?”

“I get the concept, but what I am trying to get at is that, in the end, numbers are presented. They drive policy decisions or directions of travel. What sort of quantum out could we be? How do we assess the overall level of comfort and confidence that we should have as it drives pretty delicate balances of where we orie…”

“What more do we need to get that right? You are absolutely right that devolution gives different discretion to different devolved Administrations, but unless you collect common data, you cannot make meaningful comparisons.”

“What does that mean practically?”