The Financial Ombudsman Service (FOS) is working with other regulators to ensure a more joined-up approach to the way they set and enforce their regulatory regimes.
The aim of the reinvigorated Wider implications Framework is to build on existing collaboration between the members on matters of common interest to achieve a better outcome for consumers, small businesses and the financial services industry, where compatible with members’ independent statutory roles and functions.
The organisations that work within the framework are:
- The Financial Ombudsman Service
- The Financial Conduct Authority (FCA)
- The Financial Services Compensation Service (FSCS)
- The Pensions Regulator (TPR)
- The Money and Pensions Service (MaPS)