Consumer credit—ombudsman and guidance

This Overview provides a guide to the Lexis+® UK Financial Services content within the Consumer credit—ombudsman and guidance subtopic, with links to appropriate materials. For information on other aspects of the consumer credit regime, see: Consumer credit regime—overview, Consumer credit advertising—overview, Debt management and advice—overview, and Consumer credit agreements—overview.

The Financial Ombudsman Service

The Financial Ombudsman Service (FOS) is an independent dispute resolution scheme that exists to assist consumers in resolving complaints between financial services firms and their customers (including in relation to consumer credit). For information on the powers and scope of the FOS and how it handles complaints against firms, see Practice Note: Financial Ombudsman Service—essentials.

For information on the remedies that may be awarded by the FOS when it upholds a complaint against a financial services firm, see Practice Note: Financial Ombudsman Service—remedies.

Who can make a complaint to the FOS?

In order to refer a complaint to the FOS, a person must be an 'eligible complainant'. This applies irrespective of the jurisdiction under which the complaint is brought. For information on eligibility, see Practice Note:

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Latest Financial Services News

Lexis+ Financial Services—daily round-up (16 February 2026)

A round-up of financial services developments.

OFSI launches call for evidence on ownership and control test in UK sanctions

The Office of Financial Sanctions Implementation (OFSI) has launched a call for evidence seeking views on how UK financial sanctions regulations on ownership and control are applied in practice, including how firms implement the regulations and where they face challenges, with a particular focus on ‘hypothetical control’. Her Majesty’s Government (HMG) is seeking practical examples of how often hypothetical control arises, its impact on compliance costs, legal risk and business decisions (including de-risking) and whether existing legal concepts and typologies of control assist in applying the ownership and control test.

FCA publishes guidance on reporting sanctions evasion by regulated firms

The Financial Conduct Authority (FCA) has published guidance outlining how to report suspected sanctions evasion, establishing three reporting channels for submitting information about firms listed on the Financial Services Register or companies with UK listed securities. The guidance specifies that confidential reports concerning current or previous employers should be directed to the FCA's Whistleblowing team, while authorised firms reporting issues within their own firm without requiring anonymity should follow Sup 15 procedures. Firms or professionals with information about potential or actual sanctions evasion by other firms or individuals should use the FCA's reporting form for wrongdoing or misconduct. The FCA seeks information on inadequate sanctions controls, suspected or actual breaches of the sanctions regime and methods used to circumvent sanctions requirements. The guidance also clarifies that reporting to the FCA does not replace statutory legal requirements under the Proceeds of Crime Act 2002 or the Sanctions and Anti-Money Laundering Act 2018. Firms operating in sectors overseen by other regulators are advised to notify their relevant supervisory authority in addition to the FCA.