The Financial Ombudsman Service still intends to publish the details of firms subject to complaints following a public consultation.

In a discussion paper published last year, the FOS proposed publishing the name of firms involved in complaints but not the name of the consumer.

It felt, “it was not practical to publish full decisions without business names” and that “the identity of the business would often be clear from the substance of the decision itself and attempts to disguise the business’ identity could risk reducing the clarity of the decisions - and fuel public speculation and erroneous reporting.” Any commercially sensitive material would be protected.

It has since received responses to the consultation from firms, individuals and consumer groups.

The FOS said the decision was welcomed by consumer groups who felt it would help consumers make better financial decisions.

The report from the FOS read: “Overall our stakeholders were largely supportive of our approach, noting that increased transparency about the ombudsman’s approach to cases could help consumers and financial businesses alike avoid unnecessary complaints - and should also enhance the accountability of the ombudsman service.”Some financial businesses were concerned that the decision could damage firms’ reputation, particularly smaller firms, and deter them from approaching the Ombudsman but many felt it could help financial businesses improve.