The financial services world is very accustomed to regulation. Institutions operating in this environment tend to be relatively sophisticated and have the resources to deal with the burdens imposed on them. However, as the regulatory net spreads wider, others are being caught up in it. One example of this is the extension of the jurisdiction of the Financial Ombudsman Service (FOS), which comes into effect on 6 April.
February 07, 2007 at 08:10 PM
1 minute read
The original version of this story was published on Legalweek
The financial services world is very accustomed to regulation. Institutions operating in this environment tend to be relatively sophisticated and have the resources to deal with the burdens imposed on them. However, as the regulatory net spreads wider, others are being caught up in it. One example of this is the extension of the jurisdiction of the Financial Ombudsman Service (FOS), which comes into effect on 6 April.
The existing scheme
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