FOS

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.

A call has gone out to IFAs and financial planners to use their commercial muscle to put pressure on product providers and reform information given to consumers in non-advised sales.

Concerns expressed by Walter Merricks, chief ombudsman at the Financial Ombudsmand Service (FOS), last week that the existence of the FOS could encourage an "unhealthy propensity" among consumers to demand redress for every perceived loss has sparked...

A fee-based intermediary is set to lose money from a client who is refusing to pay a £200 fee and threatening to take her to the Financial Ombudsman Service (FOS).

Mortgage adviser firms who have agreed compensation for endowment mis-selling are not required to re-open the case even if the client returns after accepting that sum, the Financial Ombudsman Service has confirmed.

Firms attempting to challenge decisions made by the Financial Ombudsman Service (FOS) will now find doing so very difficult, following a High Court ruling last month, a city lawyer has warned.

CITY LAWYERS say it will be "almost impossible" to challenge any decision from the Financial Ombudsman, according to this morning's Times, following a key ruling in the High Court against an IFA firm.