AIFA has reaffirmed its campaign against the Financial Ombudsman Service's (FOS) general levy and rules on forced case fees paid by advisers when a complaint is brought against their firm.
The trade association has called for 10 free cases to be awarded to all advisers, while asserting that all those that bring vexatious complaints to the FOS should be charged. Chris Cummings, director general of AIFA, said: "We firmly believe that those who are the biggest users of FOS should pay the lion's share of the costs. We strengthen our call for 10 free cases to be awarded to all firms. On this basis the vast majority of IFAs would not be subject to the £400 case fee - a considerable burden to our members who in most cases see the complaint rejected." Cummings comments follow the...
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