FOS

ERM, WAITER

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

Advisers have seen the number of complaints against them soar over the past year, however figures show that more than half of the cases were dropped by the ombudsman.

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

The proportion of high earners referring unresolved complaints to the Financial Ombudsman Service (FOS) almost doubled last year, illustrating, it said, that "few people are immune" from the effects of the economic crisis.

Steve Bloor, of Open Resolution, says the Financial Ombudsman is a key defence against unscrupulous banks.

Firms which fail to apply a pragmatic approach to complaints cause problems to escalate unnecessarily, Natalie Ceeney , chief executive of the Financial Ombudsman (FOS) has said.

The Financial Ombudsman Service (FOS) has received a "small number" of complaints related to troubled overseas property sales agent Harlequin Property - though this could rise if a group of investors gets its way.

The board of the Financial Ombudsman Service has appointed Amerdeep Somal as the new independent assessor for the service.