The Financial Ombudsman Service (FOS) would be able to force firms to pay up to £350,000 to complainants under new proposals drawn up by the Financial Conduct Authority (FCA).
The regulator said its CP18/31 proposals - which would more than double the amount the ombudsman could make firms compensate people - would be fairer for customers. According to the FCA, the ombudsman...
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till