How do we regulate businesses in such a way that we don’t add cost/risk, thereby hurting poorest consumers? How has the Financial Ombudsman Service performed by reference to what it was set up for in 2000? While not formally a regulator in the strict sense, the FOS exercises de facto regulatory powers in retail financial services by making determinations of complaints brought to it. The paper was published weeks after Chief Ombudsman of the FOS Caroline Wayman resigned amid a mounting backlog of complaints and controversy over levels of compensation. Andy Mayer, Chief Operating Officer at the IEA sat down with Victoria Hewson (Head of Regulatory Affairs, IEA), Paul Smith (CEO, Morses Club) and Eric Leenders (Managing Director, Personal Finance at UK Finance). Thye discuss Victoria’s recent publication ‘Who Regulates the Regulators? The Financial Ombudsman Service’ You can read Victoria’s publication here – https://iea.org.uk/publications/who-regulates-the-regulators-the-financial-ombudsman-service/