No surge in complaints from pension freedom and new FCA rules
The Financial Ombudsman Service (FOS) has rejected calls from industry stakeholders for claims management companies (CMCs) to be charged FOS fees and levies.
The advisory community will pay a smaller proportion of the overall Financial Ombudsman Service (FOS) Levy in 2011/12, although the explosion in PPI cases could cancel out any savings.
An adviser firm at loggerheads with the Financial Ombudsman Service (FOS) over its case fees is set to petition the House of Lords.
The regulator is considering whether to increase the number of free cases firms are entitled to at the Ombudsman and increase the importance of the case fee, rather than the levy, in its funding.
The Association of IFAs is calling for consumers to lodge a refundable deposit with the Financial Ombudsman Service to reduce the number of times when firms have to pay case fees.
The Financial Ombudsman Service is proposing to increase IFA case fees from £360 to £400 from 1 April 2007 because of an anticipated decline in the number of cases it will receive fees for.
The Financial Ombudsman Service has launched a series of quick guides for small businesses outlining its funding, jurisdiction and how it calculates redress.
The Personal Finance Society's announcement it will submit a proposal to the Financial Ombudsman Service (Fos) arguing advisers should only pay case fees when they are found guilty has provoked a flurry of responses from IFAs.
The Personal Finance Society (Pfs) will submit a response to the Financial Ombudsman Service (Fos) arguing IFAs should never have to pay case fees unless they are found guilty.