AITC calls for more FOS powers

Currently, consumers do not have access to the FOS where they buy such products without advice. However, this leaves investors without a significant tool to ensure regulation of management of investment trusts. Also, extending FOS powers would help introduce a greater measure of consumer confidence in the investment trusts sector, the AITC says. “The Association strongly supports the work and procedures of the FOS but does not support an appeals process as this could substantially lengthen the investigation process, and increase consumer distress. However, the FOS must continue to ...