Percival hints at FCA-FOS talks on suitability

Asked at the Distribution Technology conference on 4 March about his views on how the Financial Ombudsman Service's (FOS) take on suitability reports often differed from the regulator's, Percival (pictured) responded: "Watch this space." Percival had told delegates at the conference he didn't believe shorter, simpler suitability reports stood less of a chance at defending complaints with the ombudsman than those containing a raft of clauses designed to "cover the firm's position". But an adviser in the audience pointed out he had evidence to prove the FOS had been interpreting FCA rul...