Explanatory Notes

Financial Services and Markets Act 2000

2000 CHAPTER 8

14 June 2000

Commentary on Sections

Schedule 17: the Ombudsman Scheme

Paragraph 19: Delegation by and to other schemes

860.Although the scheme is intended to cover most complaints relating to the financial services industry, there is likely to be some continued overlap with other arrangements, for example in the areas of pensions and consumer credit.  The scheme would be able to agree with other schemes which body should consider complaints within the voluntary jurisdiction.  The arrangements must be approved by the Authority.