FOS rulings: Professional Adviser calls for evidence of inconsistency

Professional Adviser calls for evidence of inconsistency

Scott Sinclair
clock

Professional Adviser is calling for evidence of discrepancies between FCA rules and Ombudsman adjudications...

Do the FCA and FOS sing from the same sheet? Many advisers don't believe they do. Every year, Professional Adviser has correspondence with readers over what they deem to be discrepancies between how the Financial Ombudsman Service (FOS) determines a case, and the regulatory rules under which that case was written. The line from the Financial Conduct Authority (FCA) is that such inconsistencies do not exist. Technical specialist Rory Percival has called for evidence from advisers - down to individual case numbers - of where a FOS ruling has betrayed - or appeared to betray - FCA rul...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA's SDR regulation will 'make advisers sit up and listen'

FCA's SDR regulation will 'make advisers sit up and listen'

‘There has to be a fundamental re-educating of the adviser community’

Isabel Baxter
clock 30 November 2023 • 4 min read
Advice/guidance boundary review will help 'bridge advice gap'

Advice/guidance boundary review will help 'bridge advice gap'

The FCA’s latest update leads to mixed reactions from the industry

Sahar Nazir
clock 04 August 2023 • 4 min read
FCA review confirms investment pathways working 'as intended'

FCA review confirms investment pathways working 'as intended'

No changes to initiative but industry called to better support savers

Holly Roach
clock 12 July 2023 • 3 min read