Sudden departures and a government review – what next for the FOS?

A look at the Ombudsman’s roadmap to modernisation

Isabel Baxter
clock • 6 min read

The Financial Ombudsman Service (FOS) has been in the limelight, with publicised modernisation goals and a looming government review, as well as shock leadership team departures. Isabel Baxter takes a deeper look at the Ombudsman and the changes it aims to make…

Chancellor Rachel Reeves set the FOS and Financial Conduct Authority (FCA) the task of modernisation in her Mansion House speech in November last year. Soon after, the FOS and the FCA released their joint call for input in a bid to "modernise the redress system". There have also been senior leadership changes at the organisation, including the shock departure of CEO Abby Thomas. Now questions lie about what is next for the Ombudsman and what the review will mean, with some believing its modernisation was long overdue. A government review Most recently, it was reported that the go...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Companies

Tavistock snaps up hybrid advice firm for £6m in bid to refocus strategy

Tavistock snaps up hybrid advice firm for £6m in bid to refocus strategy

Acquires Lifetime Financial Management Intermediaries

Isabel Baxter
clock 11 September 2025 • 3 min read
Finli prepares 'sizable' acquisition as leadership transition gets underway

Finli prepares 'sizable' acquisition as leadership transition gets underway

Acquisition will bring in more younger advisers, Finli outgoing CDO says

Sahar Nazir
clock 11 September 2025 • 3 min read
Atomos partners with FinCalc to 'enhance' financial planning services

Atomos partners with FinCalc to 'enhance' financial planning services

Aims to give Atomos advisers ‘streamlined, efficient’ tools

Isabel Baxter
clock 09 September 2025 • 1 min read