FOS

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.

The chief executive of Lloyds Banking Group has suggested claims management companies should be forced to cover the costs of false claims.

Rebus Investment Solutions, a company which helps investors recoup losses from complex investments which they argue they have been mis-sold, has secured £750,000 of compensation on behalf of five clients invested in a carbon credit scheme.

The Financial Ombudsman Service (FOS) is currently upholding about 47% of all complaints, according to the FOS' own figures.

Advisers need to look at the product first and the client second when they are doing due diligence to meet the "very high" standards the Financial Services Authority (FSA) expects, according to Regulatory Legal, a law firm specialising in financial services...

The Financial Ombudsman Service (FOS) has made a provisional ruling that a financial adviser working for AWD Chase de Vere was wrong to invest almost £80,000 of an 80-year-old's pension in failed fund Keydata.

The Financial Ombudsman Service (FOS) has ruled that an IFA should repay an investor £150,000, the amount he recommended he invest in a troubled unregulated collective investment scheme (UCIS).

The Financial Ombudsman Service (FOS) is set to ask the Financial Services Authority (FSA) to increase the amount it levies firms by £5.3m to £23m.