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...
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