Ombudsman service loses case over fees

A County Court judge has ruled the Financial Ombudsman Service (FOS) are wrong to charge an adviser a case fee when they reject a complaint.

The FOS had brought a case against a small Wiltshire-based IFA for refusing to pay four case fees of £360 each. The IFA had refused to pay the fees as a way of challenging the FOS’s practice of charging firms a fee even when a complaint against them is rejected.

County Court cases don't set precedents, but the FOS will appeal "because it touches on some wider issues about how we're funded".

Ombudsman case histories

The ombudsman has issued some case histories showing how they deal with disputed withdrawals from cash machines.

There are also case studies illustrating recent investment-related complaints, including stockbroking and spread-betting. These include examples where a stockbroker was giving advice on share investments, or managing them.