You would think that a minimum number of staff to do the job would be the least the industry should expect from the FOS. Clearly overly stretched organisations do not do their job well.
Yet, earlier this month, Money Marketing revealed that FOS was looking to make 150 staff redundant, despite a complaints backlog.
An insider now tells the website that in the face of opposition, FOS is driving forward with the plans, and that the number of employees facing redundancy could now be even higher.
It can only hurt consumers who face a backlog and advisers who frequently point out inconsistencies.
Openwork is to return to publishing performance tables for network firms though with no incentives or disincentives.
The attempted hostile takeover of Jersey based fund firm Tavistock has gained momentum with the firm’s former CIO Christopher Peel now giving his backing to the campaign from TEAM. What are investors to make of all this?
I always think it pays to wait a few days before considering the implications of court proceedings. There is often rather loose use of the term 'precedent setting'. Does the following case meet the criteria?
The Court of Appeal has found in favour of Russell Adams and against his self-invested personal pension (SIPP) operator Options Personal Pensions, formerly Carey Pensions, in their long-running legal dispute.
in a judgement published on 1st April, the Court of Appeal overturned the decision and ruled Adams was advised in contravention of the Financial Services and Markets Act (FSMA) 2000 by unregulated introducer CLP Brokers.
The law firms haven’t yet come out with their analyses which are always very good. This does seem to place more liability for poor investments with SIPP providers at least historically.
Hundreds of millions of pounds in pension tax relief are going unclaimed because higher-rate and additional-rate taxpayers are failing to claim what is due to them through their self-assessment tax returns reports New Model Adviser.