FOS

Meteor Asset Management has refused to abide by a FOS order to return £15,000 to investors who lost money in its Lehman-backed plans, and could challenge the ruling in a judicial review.

The financial Ombudsman (FOS) has frozen the fee it charges firms to deal with complaints at £500 for the second consecutive year.

"Doing the right thing" has emerged as the most important value among Financial Ombudsman Service (FOS) staff as part of an ongoing review.

ETFs and SIPPs have been earmarked as ‘emerging risks' by the newly set-up Coordination Committee (CC) which unites the FSA, OFT and FOS.

The FOS must make a final decision on the level of its reserves this month, as firms' continued refusal to pay fees linked to payment protection insurance (PPI) cases look set to exhaust funds and force levies to rise by as much as 25%.

The Competition Commission (CC) has confirmed the banning of payment protection insurance (PPI) sales at the point of credit sale for seven days and introduced a wide range of rules governing the product.

Norwich & Peterborough (N&P) building society has set aside a massive £57m to cover the cost of compensating customers its IFAs invested in failed investment firm Keydata.

An IFA has blasted James Hay for making 'schoolboy errors' when calculating a SIPP customer's pension benefits.

Mint Financial is about to settle a £2.6m compensation bill for giving poor advice on Integrity Maximiser geared traded endowment policies (GTEPs), IFAonline understands.

Mark Garnier has expressed his surprise at the scale of industry disillusionment with the Financial Ombudsman Service (FOS) and asked advisers for more details.