The FSA has appointed three more non-executive directors to the strategic board of the Financial Ombudsman Service (FOS), as it prepares for an avalanche of extra claims over Payment Protection Insurance and a series of investment company failures.
The FOS board has strategic responsibility for running the ombudsman service, including ensuring it is properly resourced to to carry out its work. FOS says it expects the number of cases for the year to March 2011 to be 7% higher than last year, but within this total figure, PPI cases have risen by almost 40%. It is also poised to deal with hundreds of investors who put money in Keydata following advice from Norwich & Peterborough (N&P) advisers. Dame Janet Gaymer DBE QC, Alan Jenkins and Pat Stafford will take up their posts from 23 February. Gaymer is currently a member ...
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