Ambulance chasers spur huge jump in SIPP complaints

Claims management companies and law firms are submitting two thirds of all SIPP complaints - double the percentage seen in the previous year, according to Financial Ombudsman Service (FOS) figures out today.

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FCA, FSCS and FOS launch ‘phoenixing’ working group

 The FCA and other financial regulators are to launch a joint working group to tackle phoenixing in financial services.

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CISI warns FCA over impact of FOS compensation increase

The Chartered Institute for Securities & Investment (CISI) has raised concerns with the FCA at the decision to increase the Financial Ombudsman Service’s (FOS) compensation limit from £150,000 to £350,000, as it may have “serious unintended consequences for its member SMEs”.

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FOS gets new jurisdiction over 'ambulance chasers'

The Financial Ombudsman Service has expanded its remit to include more small business and claims management companies, so called ‘ambulance chasers’.

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