Complaints linked to property funds, deferral periods and market value reductions (MVRs) are on the increase, as investments disappoint in the wake of the crisis, says the Financial Ombudsman Service (FOS).
FOS blames volatile market conditions for the rise in investment complaints referred to it by consumers who have put money in property funds, and then seen the value of their investments tumble. The Ombudsman does not deal with complaints which solely relate to poor investment performance. But it says it plans to investigate the rise for cases of inappropriate advice and failure by businesses to disclose any risks relating to an investment, to see if the increase points to any underlying issues in the investment sector. Investment complaint numbers are also up from people who have ...
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