This section answers a number of frequently-asked questions (FAQs) about:
where does the ombudsman service get its powers from?
The Financial Ombudsman Service is the statutory dispute-resolution scheme set up by parliament under the Financial Services and Markets Act 2000 (as amended).
We are a not-for-profit public body – but not a government agency or "quango". We are independent of government and the businesses we cover – and we are not a consumer body.
We resolve individual disputes between businesses providing financial services and consumers, as an alternative to the civil courts.