complaints handling

The Personal Finance Society (PFS) has called for a better recognition of the rising standards in the professional advice community on the back of recently published complaints figures.

COMPLAINTS

The number of new complaints taken on by the Financial Ombudsman Service (FOS) almost doubled over the past year, figures show.

The Financial Services Complaints Commissioner has dismissed a complaint by a group of London traders against the Financial Services Authority (FSA) for its handling of alleged market abuse on a number of exchanges dating as far back as 2007.

The Complaints Commissioner has rejected a claim against the Financial Services Authority (FSA) by a consumer who wrongly believed their UK-based adviser had passporting permissions.

Financial Ombudsman Service (FOS) chief executive Natalie Ceeney has praised independent financial advisers for their complaints handling, saying they do a better job than larger businesses such as banks.

The Financial Services Authority (FSA) has agreed to increase an ex-gratia payment to a firm unnecessarily contacted by a debt collection agency, after the complaints commissioner deemed its initial offer inadequate.

Network Sesame has topped the Financial Ombudsman Service (FOS) complaints table for IFA businesses, with 138 complaints in the first half of this year, compared to 140 in H2 2011.

The Complaints Commissioner has rejected a complaint from a consumer that the Financial Services Authority (FSA) failed to adequately monitor his financial adviser, who he claimed had given him unsuitable advice.

COMPLAINTS