FOS tells N&P Keydata victim 'go to FSCS'

Its recommendation was made even though the investor denies Keydata brochures are the cause of his loss and insists mis-selling by N&P advisers was to blame. This means he can only apply for redress through the FSCS, funded by the industry including advisers, rather than the FOS which forces the individual firm at fault to pay. The father of two invested £20,000 on behalf of each of his young sons and says he has been pursuing the FOS route rather than the FSCS as he genuinely believes N&P mis-sold him his investment. "The letter is a blow in the teeth to all those IFAs who had not...