FOS

The Financial Ombudsman Service (FOS) has ruled in favour of a client against advice first received in 2001, after more than the six year limit for complaints.

The Financial Ombudsman Service (FOS) has doubled its staffing levels since April last year to deal with volume of complaints about mis-sold payment protection insurance (PPI).

The Financial Ombudsman Service (FOS) has revealed that it is awaiting a lead decision on investments in failed firm Keydata before it decides the fate of thousands of investors seeking redress.

At least 80 Keydata investors are concerned they will not have recourse to the courts if their claims at the Financial Ombudsman (FOS) fail to fully compensate them, because the service is taking so long.

IFA network PI Financial is in the spotlight again over the mis-selling of unregulated collective investment schemes (UCIS), two months after being hit with a £58,000 fine by the regulator for giving unsuitable UCIS advice.

An adviser who recommended a client invest most of his pension savings in an offshore property fund has been told to purchase his client's investments and compensate him following a ruling by the Financial Ombudsman Service (FOS).

Firms' failures to rectify mistakes has been a key factor in the rise of claims management companies (CMCs), Financial Ombudsman Service (FOS) chief executive Natalie Ceeney said.

LONG-STOP

A Financial Ombudsman Service executive has urged firms to "embrace, encourage and celebrate" complaints, arguing they need to plan for imperfections.

Network Sesame has topped the Financial Ombudsman Service (FOS) complaints table for IFA businesses, with 138 complaints in the first half of this year, compared to 140 in H2 2011.