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Jurisdiction(s):
United Kingdom
United Kingdom
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...
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Financial Ombudsman Service complaints (UK): jurisdiction, powers, procedure, evidence, time limits, hearings, determinations, dismissals, test cases, ADR compliance and Consumer Duty under FCA DISP and FSMA 2000
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Practice notes
The Financial Ombudsman Service’s (FOS) approach to handling complaints is set out in the Financial Conduct Authority (FCA) Handbook, within Dispute Resolution: Complaints—commonly the ‘DISP’ rules—with particular focus on DISP 3 in detail. DISP stipulates the processes and obligations for firms when managing complaints, and also defines the FOS’s remit and procedure. Collectively, they provide a structured route for addressing grievances and set expectations for both businesses and the Ombudsman scheme. They also clarify when the service can look at a matter and how it should proceed. Beyond DISP, consumer complaints escalated to the FOS are also governed by the Alternative Dispute Resolution (ADR) Directive 2013/11/EU (the ADR Directive). The UK began complying on 9 July 2015, following its transposition via the Alternative Dispute Resolution for Consumer Disputes (Competent Authorities and Information) Regulations 2015 and the Alternative Dispute Resolution for Consumer Disputes (Amendment) Regulations 2015. This Practice Note sets out the procedures the FOS must observe, and the powers it exercises, when assessing complaints. It does not cover the awards the FOS may make; for that, see Practice Note: Financial Ombudsman Service—remedies. For time-limit guidance when bringing a complaint to the FOS, refer to Practice Note: Financial Ombudsman Service—time limits...
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Web page updated on 21/05/2026
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