Ombudsman
Sipps top UK ombudsman’s list of complaints
Complaints about self-invested personal pension schemes (Sipps) had the highest success rate of any product looked at by the UK’s Financial Ombudsman Service (Fos) in the first quarter of this year.
Tax & Regulation | 30 Jun 16
UK IFA ordered to undo ‘inappropriate’ illiquid investments
A UK advisory firm must compensate a client it advised to give up a guaranteed cash sum and annuity rate to invest in illiquid storage units, the Financial Ombudsman Service (FOS) has ruled.
Retirement | 3 Jun 16
Watchdog tells wrongly-advised client to pay £1,700 exit fee
A decision by Friends Life to charge a client a £1,700 exit fee for transferring a planned pension has been upheld by the UK’s Pensions Ombudsman Service (POS), despite being wrongly advised by her IFA.
Retirement | 17 May 16
Excessive due diligence not expected of UK Sipp providers
The UK’s Pensions Ombudsman has found in favour of Sipp providers in a case where a client made non-regulated investments without seeking financial advice.
Complaints to Britain’s FOS show signs of easing
Britain’s Financial Ombudsman Service received 4,359 complaints relating to life, pensions and investment business in the second half of 2015.