Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Financial Ombudsman Service definition

What does Financial Ombudsman Service mean? The Financial ombudsman Service (FOS) is the UK’s independent statutory alternative dispute resolution service for complaints by consumers and certain small organisations against FCA- and PRA-regulated financial services firms. It provides a free, informal forum to resolve banking, insurance, investment and pensions disputes without court proceedings. FOS operates the compulsory ombudsman scheme created by the financial services and markets act 2000, with scope, eligibility and procedure set mainly in the FCA Handbook (DISP) and supplemented by the Payment Services and Electronic Money Regulations and consumer credit legislation. Complaints are usually referred after a firm’s internal process has concluded, within...

FOS compulsory jurisdiction in the UK: scope, territorial reach and activities (payment services, e‑money, CBTL, claims management, credit reference agencies, finance platforms), with key transitional provisions and case law

Published by a LexisNexis Financial Services expert

Practice notes

The compulsory jurisdiction of the financial ombudsman service (FOS)

Set out in Chapter 2 of the FCA’s Dispute Resolution: Complaints Sourcebook (DISP), and made under section 226 of the Financial Services and Markets Act 2000 (FSMA 2000), the compulsory jurisdiction of the Financial Ombudsman Service (FOS) requires that complaint about an act or omission by a person (the respondent) in carrying on an activity to which compulsory jurisdiction applies is considered under the FOS scheme, provided certain criteria are satisfied and the complaint meets those conditions. The conditions are that the following apply:

the complainant is eligible and wishes the complaint to be considered under the FOS scheme
the respondent was an authorised person at the time of the relevant act or omission, and
the relevant act or omission occurred when compulsory jurisdiction rules were in force for the activity concerned

The compulsory jurisdiction rules are those made by the FCA (in DISP 2) for the purposes of FSMA 2000, s 226, which specify the activities to which compulsory jurisdiction applies in relation to the activity in question. Prior to the FSMA 2000 (Transitional Provisions) (ombudsman Scheme and Complaints Scheme) Order 2001, SI 2001/2326 (the Ombudsman Transitional Order)...

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Honor Levy

LexisNexis

Honor previously worked as a solicitor in the Enforcement Division of the Financial Conduct Authority (FCA). Whilst at the FCA, she also worked as an investigator in many regulatory investigations, specialising in investigating breaches of the FCA’s rules and regulations by retail firms and their directors. Prior to joining the FCA, Honor was an associate in the General Commercial Litigation department at SJ Berwin LLP, handling a wide range of litigation cases, including representing financial institutions and directors who were subject to regulatory investigations and enforcement actions....

Web page updated on 21/05/2026

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