LIA responds to CP04/12 and role of FOS

CP04/12: FSMA 2 Year Review: Financial Ombudsman Service July 2004 looks at the current roles of the FSA and FOS, and poses questions on what, if any, changes should be made to these roles. The consultation is part of the 2-year review of the effectiveness of the Financial Services and Markets Act 2000, which established the current roles of the different regulatory bodies. Improved communication is especially important with regard to so-called wider implication cases, the LIA says. Such cases may focus on individual firms or consumers, but they hold implications for many firms, co...