Garnier keen to get IFA feedback on FOS

The MP took part in a Q&A session with advisers at a Panacea IFA event in London, focusing on the RDR. However, a number of the attendees used the event to express their concerns about the Financial Ombudsman Service. One adviser bemoaned the inability to appeal FOS decisions, while also highlighting the impact it can have on professional indemnity insurance. Meanwhile, a number of advisers were concerned by the lack of knowledge among FOS adjudicators of the industry and types of products. Although he was aware of other issues related to the FOS, including its handling of bank ...