FOS

Advisers and investors face further uncertainty over their fate as the Financial Services Compensation Scheme (FSCS) has once again delayed a ruling on advisers' liability for investment losses in overseas property scheme Arck.

The Financial Ombudsman Service (FOS) has ruled in favour of four complainants who separately claimed they were given unsuitable advice to transfer their personal pensions to new plans permitting investment in overseas property.

Three systems advisers could use

The adviser who records all client encounters

A wealth manager has entered liquidation because it is unable to pay back clients to whom it mis-sold investments, leaving Financial Services Compensation Scheme (FSCS) levy payers to pick up the bill.

Financial Conduct Authority (FCA) chief executive Martin Wheatley has called on firms to do more to support vulnerable customers, saying their mistakes made difficult situations worse "too many times".

An exasperated Friends Life pension customer is taking his case to the Financial Ombudsman Service (FOS) after what he said is a decade of poor service from the life company.

A Court of Appeal ruling about what constitutes a collective investment scheme has raised questions about the status of Harlequin that could cast further doubt on its suitability for retail investors.

The Financial Ombudsman Service (FOS) has listened to industry complaints about the burden of regulatory cost and cut its budget by 11% for the coming year.

Financial Conduct Authority (FCA) technical specialist Rory Percival has hinted the regulator and ombudsman are working to agree on guidelines around suitability reporting for advisers.