FSA proposals come under fire from brokers
Financial Services Authority proposals for the future funding of the Financial Ombudsman Service hav...
Financial Services Authority proposals for the future funding of the Financial Ombudsman Service have come under fire, as brokers could end up paying to investigate spurious claims. The FOS will not charge complainants an investigation fee and Andrew Paddick, director general of the Institute of Insurance Brokers, said: "This goes beyond the FSA's aim to protect the customer and potentially allows frivolous claimants to bring their cases at the brokers expense." The proposals are outlined in
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