FOS to handle NS&I complaints

The complaints procedure for National Savings & Investments (NS&I) is to come under the jurisdiction...

The complaints procedure for National Savings & Investments (NS&I) is to come under the jurisdiction of the Financial Ombudsman Service (FOS). As its products are not regulated by the FSA, NS&I has had to volunteer to come under the FOS regime. At present, complaints about NS&I products go either to an independent adjudicator or the parliamentary ombudsman. As a first step, the FOS has published a consultation paper outlining the modifications to its voluntary jurisdiction rules to accommodate NS&I. The consultation will run until 11 August.