Monday, 17 December 2018 12:17

FOS seeks input on 2019/20 strategy and budget

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FOS consultation FOS consultation

The Financial Ombudsman Service (FOS) has today published a public consultation about its proposed strategic plans and budget for the financial year 2019/20, together with an update on numbers for the current financial year (2018/19).

The consultation closes on 31 January 2019.
 
The Financial Ombudsman Service will publish its final plans and budget for 2019/20 before the end of the current financial year, after it has been approved by the Financial Conduct Authority.

 

Caroline Wayman, chief ombudsman and chief executive, said: “This public consultation is a chance for us to set out our plans for the coming financial year – highlighting the demand we expect, and how we’ll respond to it.

“Faced with this level of volatility and uncertainty, we’re especially grateful for the perspectives that our stakeholders – whether they represent large financial groups, small specialist businesses, or the interests of financial services customers – continue to share with us.

“As we prepare to take on new and significant responsibilities, our stakeholders’ insight is more important than ever.

“From 1 April 2019, around 210,000 more small and medium-sized enterprises will have access to our service, and our remit will also be extended to complaints about claims management companies.

“This consultation also details our plans for managing these areas of work.

“The FCA and Parliament have trusted us to provide the quality of service required by the parties involved – and that’s what we’ll be focused on in the months ahead.”

She added: “It’s essential we keep listening and learning – both to our own people, who care so much about the work we do, and to the widest possible range of stakeholders – so we continue to provide the forward-looking and effective service people rely on and expect.

“I look forward to hearing your views about what’s next.”

 

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