FOS accused of ‘arbitrary’ decision-making

This is a fascinating article in FT Adviser covering situations where the ombudsman has applied differing approaches to cases where a principal has been able to avoid responsibility for advice given by a representative.  See the quote below.

On 16 July 2015, the ombudsman rejected a complaint against a firm after one of its agents advised a client to invest in Harlequin Property, which was not on the firm’s list of approved products.
The Fos decision stated: “It follows that the firm is not responsible for any advice about Harlequin that might have been given to Mr and Mrs M.”

Read the full FT Adviser article



Categories: FOS

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