FOS

Investment intermediaries must stump up an extra £2m towards the Financial Services Compensation Scheme (FSCS) levy for 2013/14, taking their annual levy contribution to £78m.

The Financial Ombudsman Service (FOS) has ruled in favour of five clients who invested almost £2.6m via their IFA 20Twenty Independent in a film scheme.

The Financial Ombudsman Service (FOS) has issued a warning to consumers not to reply to fraudulent emails purporting to be from the FOS and asking for personal details.

The Financial Conduct Authority (FCA) has issued an alert to consumers not to fall foul of a website which is a clone of London-based wealth manager.

Consumers are missing out on £18.3bn worth of compensation for the mis-selling of payment protection insurance (PPI) policies, according to research by claims management firm EMCAS.

Financial advisers are as likely to be reported to the Ombudsman by other financial businesses as claims management companies, it has been has revealed.

The Financial Ombudsman (FOS) has confirmed that it will be imposing a levy on regulated businesses for 2013/14 of £23m, up 30% from £17.7m last year.

The Financial Ombudsman Scheme (FOS) will begin naming complained about firms from the summer under new powers to publish final decisions that it has under the Financial Services Bill.

Networks Openwork and Sesame saw complaints against them at the Financial Ombudsman Service (FOS) rise in the second half of last year, with Sesame receiving over 90% more claims.

London Capital Group, an online trading platform, has paid out £1.2m to investors who invested via the failed Integrity product over losses linked to commission rebating of the fund in the first half of 2009.