FOS sees regulatory vacuum ahead

Thomas says the ongoing change in regulatory approach has thrown out the question to the industry whether the FOS will itself move to take on a sort of quasi-regulatory role. The FOS has to deal with this question too, Thomas says, even as the service itself predicts a downward trend in mortgage endowment, single premium bond and other types of cases over the next year. It is also important to note the point there is a whole body of law for the industry to consider beyond whatever the FSA or FOS says or decides. Whether that is contract law, anti-discrimination law, or other, it also ha...