Half of all industry complaints against Fos upheld

clock

Six out of 13 complaints from firms about the Financial Ombudsman Service (Fos) were upheld by an independent assessor in 2005/06.

As part of the Fos’s Annual Review, an independent assessor has carried out a review of cases where a consumer or a firm has already referred the matter to the review team for investigation but remains dissatisfied. The assessor, Michael Barnes CBE, upheld six out of the 13 complaints he received from firms, most of which were IFAs or stockbrokers. Roughly half the complaints related to case fees where the complaint had subsequently been dismissed without consideration of the merits or had deemed to be outside the ombudsman’s jurisdiction. But there was only one case where Barnes cons...

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

PA Awards 2026: Entries for all categories now open!

PA Awards 2026: Entries for all categories now open!

Our 21st anniversary awards will be held in London next March

Professional Adviser
clock 09 July 2025 • 1 min read
Plannr integrates SmartSearch anti-money laundering checks into adviser workflows

Plannr integrates SmartSearch anti-money laundering checks into adviser workflows

System aims to streamline client onboarding

Sahar Nazir
clock 09 July 2025 • 1 min read
More than half of advisers have seen clients negatively affected by finfluencers

More than half of advisers have seen clients negatively affected by finfluencers

‘Advisers are becoming, in many cases, financial paramedics'

Isabel Baxter
clock 09 July 2025 • 2 min read