FOS board changes on the horizon

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Changes could be made to the Financial Ombudsman Service (FOS) board ahead of the industry-wide regulatory upheaval next year.

Minutes from the board's 20 June meeting show members conducted their annual self-assessment and saw room for improvements. Although the board felt that, overall, it was "performing well", it suggested changes were needed to its focus and form, as well as to some of its sub-committees. "The likely changes to the future landscape called for a flexible and responsive board, able to guide and steer the service through the challenges ahead," the minutes explain. "The board agreed that the findings and discussion gave the chairman a mandate to plan, and, where appropriate make decisions...

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