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Status: You are viewing the version of the handbook as on 2009-03-31.

DISP 2.1 Purpose, interpretation and application

Purpose

DISP 2.1.1GRP

The purpose of this chapter is to set out rules and guidance on the scope of the Compulsory Jurisdiction, the Consumer Credit Jurisdiction and the Voluntary Jurisdiction, which are the Financial Ombudsman Service's threejurisdictions:

  1. (1)

    the Compulsory Jurisdiction is not restricted to regulated activities and covers:

    1. (a)

      certain complaints against firms (and businesses which were firms at the time of the events complained about); and

    2. (b)

      relevant complaints against former members of former schemes under the Ombudsman Transitional Order and the Mortgage and General Insurance Complaints Transitional Order;

  2. (2)

    the Consumer Credit Jurisdiction covers certain complaints against licensees (and businesses which were licensees at the time of the events complained about); and

  3. (3)

    the Voluntary Jurisdiction covers certain complaints against VJ participants, including in relation to events before they joined the Voluntary Jurisdiction.414

DISP 2.1.3GRP

The Ombudsman Transitional Order requires the Financial Ombudsman Service to complete the handling of relevant existing complaints, in a significant number of respects, in accordance with the requirements of the relevant former scheme rather than in accordance with the requirements of this chapter.414

Interpretation

DISP 2.1.4GRP

In this chapter, carrying on an activity includes:414

414
  1. (1)

    4 14 offering, providing or failing to provide a service in relation to an activity;414

  2. (2)

    administering or failing to administer a service in relation to an activity; and414

    3414
  3. (3)

    the manner in which a respondent has administered its business, provided that the business is an activity subject to the Financial Ombudsman Service's jurisdiction.414

    414

Purpose

DISP 2.1.5GRP

In this chapter, ancillary banking services include, for example, the provision and operation of cash machines, foreign currency exchange, safe deposit boxes and account aggregation services (services where details of accounts held with different financial service providers can be accessed by a single password).4 14

414

Application

DISP 2.1.6RRP

414This chapter applies to the Ombudsman and to respondents.

DISP 2.1.7DRP

4 14Part XVI of the Act (The Ombudsman Scheme), particularly section 226 (Compulsory jurisdiction),5 applies to members of theSociety of Lloyd's5 in respect of the regulated activities of effecting or carrying out contracts of insurance written at Lloyd's.

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