The Financial Ombudsman (FOS) is asking for industry opinion on whether to make its decision-making process and final rulings public.
It has launched a three month consultation on the issue as part of a drive to improve transparency. FOS has faced criticism from the financial services industry for operating beyond scrutiny behind a closed door within a quasi-legal framework. CEO and chief ombudsman Natalie Ceeney says improving transparency is one of several major projects FOS will be working on over the coming year. She says the FOS wants submissions on what greater transparency would mean at the body, who wants more information about certain areas of its work and what more FOS can do to make this available. ...
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