Regulation

Failing Financial Ombudsman Service needs major reform


Victoria Hewson writes for CapX

Victoria Hewson, Head of Regulatory Affairs at the IEA, has penned an op-ed for CapX following the release of her latest report, ‘Who Regulates the Regulators‘.

The report highlights the failures of the Financial Ombudsman Service (FOS) to deal with a back log of cases, and deems the regulator “unfit for purpose”. In her article, Victoria states: “As the complexity of cases coming to the FOS increases it is clear that the current service, underpinned by subjective ideas of fairness and the avoidance of detriment is struggling to cope“.

Read her full article now.



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