FOS

The proportion of complaints referred to the Financial Ombudsman Service (FOS) relating to independent financial advisers (IFAs) is continuing to fall.

The Financial Ombudsman Service (FOS) has ruled against an adviser who recommended clients invest in cells of the Stirling Mortimer fund range.

FAIR?

An IFA has been instructed to compensate a couple their entire invested capital in a Keydata bond plus interest after an ombudsman found he "completely disregarded" their interests when advising them.

An independent adviser has been told he will not have to compensate a client he recommended invest in a Keydata product, even though an ombudsman ruled he had given unsuitable advice.

Industry veteran Ken Davy has criticised the FSA for refusing to restructure the Retail Distribution Review (RDR) following the effects of the banking crisis.

The Association of Independent Financial Advisers (AIFA) has hit out at "spiralling" fee rises from the Financial Services Authority (FSA), Financial Ombudsman Service (FOS) and Financial Services Compensation Scheme (FSCS).

The Financial Ombudsman Service (FOS) has set its budget for 2012/3 at £191.1m, meaning both the case fee and total levy will be frozen for the third year running.

SUPER IFAs

Collegiate Underwriting has announced a professional indemnity insurance (PII) deal for IFAs, which freezes rates for two years.