Financial Ombudsman
A free, independent service for settling individual disputes between consumers and financial firms. The Financial Ombudsman aims to compensate customers who suffer financial loss as a consequence of the inability of a regulated firm to meet its liabilities arising from claims made in connection with regulated activities (regulated activity) (even if the claim arises in relation to an activity for which that regulated firm did not have permission). The Financial Ombudsman Scheme operates independently of the Financial Services Authority.
For further information, see the Financial Ombudsman Service website .
Related links

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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