As part of our commitment to identifying and analysing emerging conduct risks we are strengthening how we work with the Office of Fair Trading (OFT), Financial Services Compensation Scheme (FSCS) and the Financial Ombudsman Service (ombudsman service).
We have formed a new Coordination Committee of the FSA, OFT, FSCS1 and ombudsman service, following feedback to proposals in Discussion Paper 10/1. The Committee met substantively for the first time in February 2011, after two pilot meetings in 2010.
The Committee is intended to strengthen coordination and promote continued discussion of the topics rather than to present a comprehensive account of the issues or a set of agreed conclusions. Where responsibility for an issue is assumed by one organisation, the usual disciplines around its response will continue to apply.
The minutes of the meetings report the discussions of the Committee, but neither the minutes nor any reported remarks by anyone present at one of those meetings should be read as representing either the formal positions of the member organisations or of the FSA. The FSA's policy proposals will be subject to consultation in the normal way.
