We have responded to HM Treasury's consultation - FS Sector Strategy: Review of the Financial Ombudsman Service.

We are please with the direction of travel shown by the package of proposed reforms to the FOS. However, there are a number of other important issues that we think would be prudent for the government to address at this juncture. These include concerns about the validity of the "fair and reasonable" test, the ability to challenge FOS decisions, remaining concerns about the FOS acting as a quasi-regulator and issues related to professional representatives/CMCs.

This response should be read alongside our response to FOS/FCA CP25/22.