Submitted by M Osman on Wednesday 3rd May 2023
Published on Tuesday 9th May 2023
Current status: Closed
Closed: Thursday 9th November 2023
Signatures: 53
Relevant Departments
Hold a public inquiry into the Ombudsman schemes for financial and legal service
The Financial Ombudsman Service (FOS) and Legal Ombudsman (LO) were founded to bring fair play to financial markets & help consumers in need. We believe that at present they fail to achieve this, and that a public inquiry is needed to identify reforms that can improve these services.
Some people have lost faith in these services, and we believe too many consumers have not been receiving the service they deserve for too long. We are also concerned about recent changes to the rules for these Ombudsman schemes.
We believe the only way the general public will see improvements to the ombudsman schemes for financial and legal services is through a public inquiry. This should hold to account anyone responsible for failures in service.
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