FOS

Yet more comments have been aired on the issues of FOS decisions and the fees versus commission debate relating to business models.

Equitable Life claims it is in a more stable position than at any time since 2000.

Pressure to meet the cost of FSA, FOS and FSCS levies has in recent months caused serious friction as some adviser operations feel they are being asked to pay costs which do not relate to their business.

Poor handling of endowment mis-selling complaints by financial services firms will increase the number of such cases passing through the Financial Ombudsman Service to around 70,000 cases a year until 2007, alleges the service.

Whitechurch Investment Services and Tudor House Financial Services are two of the 16 firms whose clients could now stand to gain from compensation paid from the Financial Services Compensation Scheme.

There is a case being assessed by the House of Lords at present, which could have serious implications for the financial services industry and the recognition of human rights.

Rejecting calls for a new appeals process the Association of Investment Trust Companies (AITC) says it would still like to see the Financial Ombudsman Service extend its powers to the investment trusts sector.

The Financial Ombudsman Service needs to show it understands how the industry has evolved and improved over recent years as its decisions show signs of retrospection, suggests the Association of IFAs.

The Financial Services Authority is talking tough on IFA payments for the FSA levy as it warns the regulatory body will take IFAs to court to recover fees if necessary or withdraw a firm's authorisation to trade.

IFA responses to the Watchdog coverage seem unhappy about the lack of action the financial intermediary market has recently taken to defend itself against yet more bad publicity.