FSA and FOS say 'no' to wider implications appeals

clock

The Financial Services Authority and the Financial Ombudsman Service have published updated procedures for complaints handling but say an external appeals process will not be introduced on 'wider implications' cases.

Under the new arrangements the FSA and the ombudsman will have nominated individuals within both organisations who will act as contact points for wider implications cases and be responsible for communication and co-ordination. Named individuals will be expected to be available to receive recommendations from firms, trade bodies and consumer bodies and liaise between the FSA and the FOS in order to ensure the referral process and any feedback is administered efficiently. However, following consultation with firms the FSA says it does not intend to recommend the government introduce an ex...

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 Your profession

Feel Good Friday: Brooks Macdonald gives sports wellbeing advice

Feel Good Friday: Brooks Macdonald gives sports wellbeing advice

Wealth manager has partnered with charity Sporting Wellness

Professional Adviser
clock 03 May 2024 • 1 min read
Adviser guide aims to 'demystify' Consumer Duty annual reporting

Adviser guide aims to 'demystify' Consumer Duty annual reporting

Firms to produce first annual Consumer Duty board report

Sahar Nazir
clock 02 May 2024 • 1 min read
Behavioural coaching a 'tough sell' among prospective clients

Behavioural coaching a 'tough sell' among prospective clients

‘Clients overlook major sources of value from advisers’

Isabel Baxter
clock 02 May 2024 • 1 min read