PFS renews its warning to industry
Figures for Q2 and Q3
Client invested £25,000 through DFM service
Investment in unregulated scheme
Properties do not exist
Bought plans in 1988 and 1989
'Exact timescale' of complaints not yet provided
Property was never built
Cofunds and Aviva saw spikes last year
85:15 split to 50:50
FOS complaint partially uphold
'No stone unturned'
3,811 complaints in 12 months
Clients 'victims of fraud'
FSCS, FOS and Insolvency Service involved
FOS limit up from £150,000 to £350,000
Set for 1 April 2019
FOS award limit increase
'We listened carefully to feedback'