FOS

A former IFA, who has been accused of mis-selling investments in a Stirling Mortimer UCIS while entrusted with 'power of attorney' type status by an elderly client, has been revealed as the legal decision-maker for at least nine other people.

Tenet has hit out at the decision to increase the Financial Ombudsman Service (FOS) limit from £100,000 to £150,000, deeming it "inappropriate".

The bank holiday may have provided a little respite, but it was still a busy week in the world of financial advice...

The Financial Services Authority's (FSA) decision to up the redress limit at the Financial Ombudsman Service (FOS) will lead to more judicial reviews brought by angry firms, and harsher defending by the regulator, a City law firm has warned.

The Financial Services Authority (FSA) has said plans to raise the FOS awards limit on complaints from £100,000 to £150,000 will not impact on firms' PII costs.

The Financial Ombudsman Service (FOS) has released a consumer fact sheet clarifying the importance of medical non-disclosure.

New cases for the Financial Ombudsman Service(FOS) soared by 26% in the year to March 31 2011, driven by a record number of complaints about PPI mis-selling.

Defaqto has said it believes short term income protection (IP) products are likely to become the replacement for payment protection insurance (PPI).

Another day, another FSA paper...

Advisers could face lower FOS fees next year as banks begin shouldering the cost of handling payment protection insurance (PPI) complaints against them, the ombudsman said.