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Financial Ombudsman Service

Volume 494: debated on Monday 22 June 2009

To ask the Chancellor of the Exchequer if he will assess the adequacy of the resources available to the Financial Ombudsman Service to deal with present levels of demand. (280904)

The Financial Ombudsman Service (FOS) is operationally independent of Government. The steps taken by the FOS to deal with the demands it faces are detailed in its corporate plan and budget 2009-10 published in March 2009. The Financial Services authority (FSA) approves the budget of the FOS and has a duty to ensure that the FOS is at all times capable of exercising its functions.