FOS appoints Nausicaa Delfas as interim chief
By Leah Milner 19
The Financial Ombudsman Service has appointed Nausicaa Delfas as interim chief executive and chief ombudsman.
Delfas will stand in for Caroline Wayman who is leaving the role after seven years, until a permanent replacement is found.
Nausicaa joins from the FCA where she is currently the executive director of international and interim chief operating officer.
She will be taking up the new role on May 17.
Delfas joins at a difficult time for the dispute service, which is facing a complaints backlog, job cuts and strong criticism of its operations.
Last month the Institute for Economic Affairs branded the complaints body “unfit for purpose” and made a case for “major reforms”. https://www.mortgagestrategy.co.uk/news/news-analysis-calls-for-reform-of-fos-mount/
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In a landmark judgment (and in unusual circumstances), the UK Supreme Court has held that the ongoing Merricks v Mastercard case should be referred back to the Competition Appeal Tribunal (CAT). Not only is this a step towards Merricks claim that interchange fees were an invisible tax on UK consumers being heard in court, but – more importantly – it is also likely to have a significant impact on UK collective proceedings for years to come.
Background
The roots of the case go back to 2007, when the European Commission found that Mastercard s multi-lateral interchange fees were anti-competitive. Interchange fees are the fees paid by businesses when transactions are made using a Mastercard, which ultimately, it was held, resulted in higher prices being charged to consumers. This finding led Walter Merricks, the former Chief Ombudsman of the Financial Ombudsman Service, to start a claim in the UK. Acting as a propos