FOS decision overturned by Judge

A High Court judge has ordered Zurich to pay £223,000 to a woman who was given advice by one of its appointed representatives.

In giving his judgement, Mr Justice Norris overturned a ruling by the Financial Ombudsman Service which had found in Zurich’s favour in 2014.

This sort of thing   ( FOS decision overruled ) does not happen very often because the costs of challenging an FOS decision are so high that few people can afford it.  So we just don’t know how many times FOS makes mistakes.  Perhaps the greatest criticism of FOS is that it allows no reasonably accessible form of appeal against its decisions.

Full story in FT Adviser
Legal Judgement at Baillii    (Judgement paras 52 53 refer to FOS)



Categories: FOS, JR

Tags:

%d bloggers like this: