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What is the scope of the FOS?

April 26, 2017FOS SCOPE

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What is the scope of the FOS?

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The FOS covers all retail financial businesses regulated by the FSA and it also covers all businesses that have a standard consumer credit licence from the Office of Fair Trading. This means that in addition to covering activities regulated by the Financial Services Authority the FOS also covers credit activities, as set out in the Consumer Credit Act 2006. One important difference between the scope of the FOS and the Financial Services Compensation Scheme is that the scope of the FOS includes mortgage lending and administration.