An adviser firm at loggerheads with the Financial Ombudsman Service (FOS) over its case fees is set to petition the House of Lords.
Brian and Dolly Pickering, of Wiltshire-based IFA Heather Moor and Edgecomb (HME), have written to the FOS informing it of their intentions.
It follows a ruling by the Court of Appeal in April which stated the case fee system at the FOS was both lawful and reasonable.
HME had initially challenged the system arguing it should not have to pay case fees on four complaints made against the firm because they were all rejected.
A judge found in HME’s favour in February before the FOS took the case to the Court of Appeal and won.
The Court of Appeal also confirmed that the FOS is not required to follow the law, is not obliged to hold a hearing, and is not required to make its decisions public.
Under current rules, FOS demands a case fee of £400 for each case considered by an adjudicator, regardless of the outcome, but the Judge in the February case said: “No reasonable public body would maintain and enforce such a rule.”
Dolly Pickering, 62, says: “We are still hoping to turn this case around.
“We are just a small family business that has been here for 38 years but what we have been put through is ridiculous.
“We are being crucified, but we have principles and we will fight this.”
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