FOS

Advisers must make sure they have coherent external evidence which proves they acted on an execution-only basis, according to a ruling by the Financial Ombudsman Service.

The Association of IFAs has raised concerns the ombudsman's subjective approach to deciding cases will be replicated by the FSA in its principles-based regulatory regime.

Consumers who use claims management companies for payment protection insurance mis-selling complaints risk losing a significant proportion of their compensation, warns law firm Reynolds Porter Chamberlain.

The FSA's shift to a principles-based approach to regulation has throw up the question of whether the FOS may move into the vacuum created by the removal of specific rules, says David Thomas, principle ombudsman at the FOS.

The Financial Ombudsman Service may consider discontinuing its IFA roadshows in light of the poor standard of questions asked and the small numbers attending.

The Association of IFAs and the Association of Mortgage Intermediaries are at odds over their favoured options for the future funding of the Financial Ombudsman Service.

IFAonline is running an opinion poll to find out how you think the Financial Ombudsman Service should be funded in the future, and we'd like your vote.

Chris Cummings, director general of Aifa and Ami, greeted me in a shirt and jeans on Friday morning - apparently in preparation for the Aifa Christmas party - declaring: "I've actually dressed up today - usually I'm wearing very casual clothes!"

The Financial Services Authority (FSA) has found no evidence small IFA firms are "fobbing off" mortgage endowment complaints, but has discovered some issues with complaints handling practices that firms must address.

The Financial Services Compensation Scheme is expected to send IFAs a bill for £9m next year just for endowment compensation claims, in its overall regulatory levy, IFAonline can reveal.