Industry calls for review of FOS past cases and training regime

Industry News | 13/03/18

New trade organisation, The Personal Investment Management & Financial Advice Association, has called for an “immediate independent review” of the Financial Ombudsman Service’s past cases where there is any doubt as to the outcome, after a Dispatches investigation found staff were inadequately trained.

The programme highlighted how some staff resorted to Google to understand the products involved and felt that they had not received enough training, raising concerns that they could have favoured lenders in their outcomes.

FOS said the programme “gave an unfair impression”, but that it would undertake a review, overseen by the non-executive board, of the concerns raised.
Source: Financial Reporter