Redress for mortgage endowment mis-selling must be calculated to value the policy up to the present day, says guidance from the Financial Ombudsman Service.
New disputes have erupted between clients and IFA firms over endowment mortgage mis-selling compensation calculations, suggests the Financial Ombudsman service.
The FSA has hit Zurich subsidiary Allied Dunbar Assurance with a £725,000 fine for failing to properly review claims of endowments mis-selling.
Investment and endowment product remuneration should in the future only be paid if products deliver "a satifactory return", Treasury Select Committee officials have argued.
Berkeley Jacobs, part of the 80m euro Dublin-listed IFG Group, has been hit with a £175,000 regulatory fine for misleading advertising and failures in the advice it gave clients releasing cash early from their pensions.