This section answers a number of frequently-asked questions (FAQs) about:
what information does the ombudsman give to the Financial Conduct Authority (FCA)?
The ombudsman service is run independently from the FCA – and we have a distinct and separate role.
However, in order to carry out our functions effectively, we need to cooperate and communicate constructively with a number of official bodies – including the FCA. The relationships we have with these official bodies are set out in the memoranda of understanding between us.
In operational terms, memoranda of understanding provide the framework for the relationship between the ombudsman service and these official bodies.
There are procedures in place for ensuring cooperation between us and the FCA and on issues that might lead to large numbers of complaints, including a senior-level co-ordination committee.