information for businesses covered by the ombudsman service
This section answers a number of frequently-asked questions (FAQs) about:
our rules & powers
our relationship with the FSA and the OFT
what information does the ombudsman give to the Financial Services Authority (FSA) and the Office of Fair Trading (OFT)?
The ombudsman service is operationally independent from both the FSA and the OFT. We have distinct and separate roles. However, in order to carry out our functions effectively, we need to co-operate and communicate constructively with a number of official bodies including the Financial Services Authority (FSA) and the Office of Fair Trading (OFT).
In operational terms, memoranda of understanding provide the framework for the relationship between the ombudsman service and these official bodies. There are also special procedures in place for ensuring liaison and co-operation between us and both the FSA and the OFT on cases that have wider implications.