Accountability
The board of the Financial Ombudsman Service is appointed by the Financial Services Authority - and the appointment of the chairman is approved by HM Treasury. The board's role includes guarding the independence of the ombudsman - from undue influence by the financial services industry and trade bodies, regulators, consumer groups and government. Board members are non-executive - they have no involvement in individual complaints.
The ombudsman can be asked to appear before the Parliamentary Treasury Select Committee who can be contacted by the consumer's MP.
In November 2011 the Financial Ombudsman Service became covered by the Freedom of Information Act. The ombudsman's website has a page of information on this subject
Consumer satisfaction surveys - and surveys of businesses covered by the ombudsman - are conducted by the Financial Ombudsman Service on an ongoing basis. The results are published annually in the ombudsman's annual review.
Customers of the Financial Ombudsman Service - both consumers and businesses - can seek redress from the Independent Assessor if they are unhappy with the level of service they have received.
The Independent Assessor is appointed by the board of the Financial Ombudsman Service. The current holder of the post is Linda Costelloe-Baker OBE who has held several similar posts.
The Independent Assessor reports formally to the board of the Financial Ombudsman Service - which publishes his report in full each year as part of the Financial Ombudsman Service's annual review.
Read more about this topic: Financial Ombudsman Service