UK Curbs Powers of Financial Ombudsman Service After Oversteps

The UK plans to curb the powers of the Financial Ombudsman Service after it acted as a “quasi regulator” during cases including the multibillion-pound motor finance scandal.

By Marion Dakers, Aisha S Gani · Bloomberg Markets

The UK plans to curb the powers of the Financial Ombudsman Service after it acted as a “quasi regulator” during cases including the multibillion-pound motor finance scandal.