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The Complaints Commissioner has rejected a complaint from a consumer that the Financial Services Authority (FSA) failed to adequately monitor his financial adviser, who he claimed had given him unsuitable advice.
The Financial Ombudsman Service (FOS) has revealed that disagreements between consumers and businesses about what investments should make up a high, balanced, low or no risk portfolio now form a 'significant' part of its casework.
Bupa has become the second insurer to give further clarity about its complaints levels, suggesting providers may want further details to be published by the Ombudsman to put figures into a wider context.
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The private medical insurance (PMI) market’s two biggest players have seen a rise in the number of complaints escalated to the Financial Ombudsman Service (FOS).
Protection complaints continued to rise during the year and have already breached last year’s totals in some product areas.
The Complaints Commissioner has rebuked the FSA for publishing “misleading” and “ambiguous” information about cheque clearing times on its website.
The Investment and Life Assurance Group (ILAG) has warned that increased publishing of decisions made by the Financial Ombudsman Service (FOS) could be a boon for claims management companies (CMCs).
The payment protection insurance (PPI) mis-selling scandal has cost the financial services industry more than three quarters of a billion in redress payments to customers in the first three quarters of the year.
An IFA whose application to the Financial Services Authority (FSA) for re-authorisation was delayed then rejected has had his complaint turned down.
Defaqto has warned that the public should not be turned off protection products following the fall out of the Payment Protection Insurance (PPI) mis-selling scandal.
Barclays anticipates further customer complaints related to its sales of payment protection insurance (PPI) after seeing a 93% increase in the six months to July.
The Association of Medical Insurance Intermediaries (AMII) has applauded the latest Financial Ombudsman Service (FOS) complaints statistics as a success for the health insurance sector.
Protection and private medical insurance complaints to the Financial Ombudsman Service (FOS) remained steady over the second quarter of the year.
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