View the article online at http://citywire.co.uk/new-model-adviser/article/a650455
Adviser bids to appeal landmark High Court FOS ruling
by Michelle Abrego on Jan 11, 2013 at 17:11
Adviser firm In Focus Asset Management & Tax Solutions has applied to appeal a landmark judgment over Financial Ombudsman Service (FOS) compensation.
The firm is seeking to appeal a High Court ruling allowing investors Barry and Julie Clark to pursue it for further damages despite having been awarded the maximum payout from the FOS.
That ruling clashed with a landmark court judgment made in 2010 by judge Mark Pelling that accepting a FOS award ruled out court action over the same compliant.
Advisers have voiced fears the ruling could lead to professional indemnity cover costs to jumping yet higher.
News sponsored by:
Today's top headlines
- Sunday Papers: BoE to launch inquiry over forex fixing claims
- Saturday Papers: Independent Scotland would lose UK's AAA rating, warns Citigroup
- FCA issues warning against US firm targeting UK investors
- Nest director John Taylor exits after 12 months
- FCA set to simplify adviser charging reporting rules
More about this article:
by Himanshu Singh on Mar 09, 2014 at 04:54