The Financial Ombudsman Service (FOS) has reminded firms of its power to order compensation where it deems a business has misused a client's personal information.
Consumer complaints to the Financial Ombudsman Service(FOS) are still overwhelmingly linked to mis-sold payment protection insurance, with investment products sparking relatively few grievances.
Product regulation will lead to a drop in innovation and "inevitable" extra costs for financial advisers, Chris Cummings says.
Norwich Union has warned there is a "high risk" 90% of its mortgage endowment policies will not pay off people's home loans, despite its main investment fund notching up a return of almost 12% before tax last year, says the Guardian .
The number of mortgage endowment complaints against IFAs has fallen again this year, according to statistics from the Financial Ombudsman Service.
A ruling on the suitability of a mortgage endowment policy will depend on whether it exposes the customer to a risk they were unwilling to take, says the ombudsman.
The Financial Ombudsman Service has launched a series of quick guides for small businesses outlining its funding, jurisdiction and how it calculates redress.
More than 1.5 million endowment complaints have been handled and over £2.3bn has been paid in redress, according to Financial Services Authority (FSA) records.
IFAs in the Financial Services Compensation Scheme's (Fscs) pension review contribution group will be unlikely to pay levies from next year.
The number of mortgage endowment complaints against IFAs increased again in 2005/06, according to the Financial Ombudsman Service (Fos).