FOS

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.

Fee-based wealth adviser Towry EJ saw nearly 350 client complaints, almost exclusively investment-related, referred to the FOS in the second half of last year, figures show.

London Capital Group (LCG) has delayed its 2010 results while it works out how much compensation it must pay investors who lost £7.7m in its managed spot FX fund.

London Capital Group (LCG) has admitted it could face compensation claims of £7.7m after an unfavourable early ruling by the FOS forced it to u-turn on a previous statement that redress costs would be "immaterial".

The Financial Ombudsman Service (FOS) has moved a step closer to making its decisions public, but is being held back by fears claims management companies will use the rulings as "ammunition" against firms.

The advisory community will pay a smaller proportion of the overall Financial Ombudsman Service (FOS) Levy in 2011/12, although the explosion in PPI cases could cancel out any savings.