our work with other official bodies
memoranda of understanding
The Financial Ombudsman Service was set up by parliament to settle disputes between businesses providing financial services and individual consumers. We are completely independent and impartial.
To carry out our functions effectively, we need to co-operate and communicate constructively with a number of organisations, including official bodies like the Financial Services Authority (FSA) and the Office of Fair Trading (OFT), as well as other ombudsman schemes.
We have entered into a number of memoranda of understanding (MOUs) with relevant bodies – and we are in the process of drawing up a number of others. These MOUs provide the operational framework for the relationship between the Financial Ombudsman Service and each relevant body, and also cover any arrangements for the exchange of information.
We have entered into MOUs with the following bodies:
Financial Services Authority [PDF opens in new window]
Information Commissioner’s Office [PDF opens in new window]
Office of Fair Trading [PDF opens in new window]
Pensions Ombudsman [PDF opens in new window]
Banking Code Standards Board [PDF opens in new window]
wider implications
There are also special procedures in place for ensuring liaison and co-operation between us, the FSA and the OFT on cases that have wider implications.guides and other material
Further guides and statements on our work with other bodies include:
joint guide: what we do – how we can help [PDF opens in new window]
produced jointly with the FSCS and the FSA, this guide explains the separate roles of our three organisations – and how and when we liaise and work together.
joint statement of roles and responsibilities
the FSA and the OFT have issued a statement outlining their respective roles and responsibilities in the regulatory landscape. The statement also covers the role of the Financial Ombudsman Service.