The FOS faces your questions
There has been some confusion in the past about what the Financial Ombudsman Service's (FOS) precise role is with reference to complainants and broking and insurance firms. To address this the FOS answered reader questions to help make their role clearer
How is the Financial Ombudsman Service (FOS) funded?
The Ombudsman Service is funded by levies and case fees which authorised financial firms have to pay by law. We receive no government funding.
Although we operate under the Financial Services and Markets Act 2000, we are not a government body.
How do you ensure that firms that have the most complaints pay the biggest share of your costs?
In general terms the aim is to recover our casehandling costs through case fees and our overhead costs through
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