Regulator draws flack over close relationship with FOS

The independence of the Financial Ombudsman Service (FSO) came under scrutiny at outgoing chief executive John Tiner's final annual public meeting for the Financial Services Authority (FSA).

Concerns were expressed repeatedly by both consumer and industry representatives alike as to the level of influence that the FSA had exerted over the ombudsman, as well as the decisions it had reached.

One consumer representative suggested that the regulator dominated the FOS, and cited the findings of Lord