About the Financial Ombudsman Service
The Financial Ombudsman Service (FOS hereinafter) was created in the Russian Federation in 2018 to settle issues of protecting consumer rights and out-of-court resolution of disputes between consumers of financial services and financial organizations.
Any consumer of financial services, be it an individual who is a party to the contract, or a person in whose favor a contract has been concluded, or one to whom a financial service is provided for purpose not related to entrepreneurial activity, is entitled to submit a complaint to the financial Ombudsman Service. The Financial Ombudsman shall review the complaint of the consumer of financial services to satisfy exclusively property requirements submitted by them to the financial organization that provided them with financial services.
The Financial Ombudsman Service consists of:
– Chief Financial Ombudsman and Financial Ombudsmen in Financial Services Sectors;
– the Council of the Financial Ombudsman Service (The FOS Council);
– the Ombudsman for financial services consumers support Service;
– the Expert council of the Financial Ombudsman Service (The FOS Expert Council).