One stop for financial complaints

The unified Financial Ombudsman Service (FOS) is in a transition period, yet to acquire its full powers but already the bureaucracy behind complaints handling throughout the financial services industry. Earlier this year the FOS took the first step towards establishment when it acquired all the staff of the eight existing ombudsman and complaints handling services from which it is being created, including the Personal Investment Authority. It is now contracted by each of those organisations to continue their work until its rulebook, created under the FSA banner, is finalised and the old...