The Association of Professional Financial Advisers (APFA) met with the Financial Conduct Authority today (FCA) as it continues to push the regulator over an adviser long-stop.
An online petition calling on the government to remove the financial ombudsman's right to consider client claims without any time restriction has ended 3,000 signatures short of target.
Highclere Financial Services senior partner Alan Lakey has left his position as a member of the Association of Professional Financial Advisers (APFA) council as he felt his voice "did not get heard".
Advisers' hopes for the re-introduction of a long-stop on client complaints have suffered a blow after Financial Conduct Authority (FCA) chief Martin Wheatley suggested the regulator's investigation into the matter may have hit a roadblock.
Time is running out to make your voice heard in the long-stop debate
A retired IFA currently battling an Ombudsman payment protection insurance claim dating from the 1980s says the lack of a complaints long-stop for advisers is "crazily unfair" and is pushing his MP to intervene.
A financial adviser has been permitted to include a complaints time bar in his client terms of business contracts, after the Financial Conduct Authority (FCA) conceded to his case.
The industry's petition calling on the government to remove the ombudsman's right to consider claims without any long-stop restriction, has passed 5,000 signatures but needs double that to be considered by officials.
Insurer Zurich welcomed the regulator's pledge to re-open the long-stop debate but suggested it should be looking at more options than just a 15-year liability period.
The vast majority of advisers are facing stagnating or higher professional indemnity insurance (PII) costs this year, while only a small minority saw premium costs fall, according to research commissioned by the Association of Professional Financial Advisers...