Victory for family denied cancer claim payout for father – The Guardian

Posted April 26th, 2013 in cancer, disclosure, financial services ombudsman, health, insurance, news by tracey

“The family of a man who died of cancer but whose life insurance payout was refused on the grounds that he failed to disclose pins and needles have won their fight against Friends Life, after the financial ombudsman ruled that the insurer was wrong to cancel his policy.”

Full story

The Guardian, 26th April 2013

Source: www.guardian.co.uk

PPI complaints rise ‘unprecedented’, says ombudsman – BBC News

Posted March 5th, 2013 in banking, complaints, financial services ombudsman, insurance, news by sally

“The financial ombudsman service is taking on 2,000 new cases a day following payment protection insurance (PPI) complaints, with numbers rising at “unprecedented” rates.”

Full story

BBC News, 4th March 2013

Source: www.bbc.co.uk

RBS awaits hefty fines for Libor rigging – The Guardian

Posted January 21st, 2013 in banking, financial services ombudsman, fines, hedge funds, interest, news by sally

“Stephen Hester lays groundwork for penalties expected to be £500m or more.”

Full story

The Guardian, 20th January 2013

Source: www.guardian.co.uk

House fire couple’s insurance battle over ‘occupancy’ – BBC News

Posted September 3rd, 2012 in complaints, financial advice, financial services ombudsman, fire, insurance, news by tracey

“Not living full-time in your home can invalidate your insurance, as one couple found out when fire devastated their property during renovation work.”

Full story

BBC News, 2nd September 2012

Source: www.bbc.co.uk

The FSA’s Investigations and Enforcement Regime Challenge in the Tribunal – Thirty Nine Essex Street

Posted March 19th, 2012 in financial services ombudsman, news, tribunals by sally

“The Tribunal’s function under the Financial Services and Markets Act 2000 is to:
‘determine what (if any) is the appropriate action for the decision-maker [i.e. the Financial services Authority] to take in relation to the matter referred … to it’ (section 133(5)).”

Full story (PDF)

Thirty Nine Essex Street, 21st February 2012

Source: www.39essex.com

Ombudsman sets out relationship with new Financial Conduct Authority – OUT-LAW.com

Posted February 27th, 2012 in bills, complaints, consumer protection, financial services ombudsman, news, ombudsmen by tracey

“The Financial Ombudsman Service (FOS) has set out how it intends to co-operate with new regulator the Financial Conduct Authority .”

Full story

OUT-LAW.com, 24th February 2012

Source: www.out-law.com

Freedom of information scope increased – Ministry of Justice

“The public can now request information from three new bodies under the Freedom of Information Act.”

Full press release

Ministry of Justice, 1st November 2011

Source: www.justice.gov.uk

Greater transparency in Freedom of Information – Ministry of Justice

“The Freedom of Information Act will be extended to cover four more public bodies and increase the public’s right to access information, Justice Minister Michael Wills announced today.”

Full story

Ministry of Justice, 30th March 2010

Source: www.justice.gov.uk

Financial firms may pay extra for rudeness, warns Ombudsman – OUT-LAW.com

Posted August 13th, 2008 in compensation, financial regulation, financial services ombudsman, news by sally

“Delays, rudeness and poor claims handling are grounds for ordering financial services firms to compensate customers, the Financial Ombudsman Service (FOS) has said. Payments can be ordered in addition to other remedies.”

Full story

OUT-LAW.com, 12th August 2008

Source: www.out-law.com

Bunney v. Burns Anderson plc and another; Cahill v. Timothy James & Partners Ltd. – WLR Daily

Posted May 31st, 2007 in financial services ombudsman, law reports by sally

Bunney v. Burns Anderson plc and another; Cahill v. Timothy James & Partners Ltd. [2007] EWHC 1240 (Ch.) 

The Financial Services Ombudsman did not have the power to make a direction under s 229(2)(b) of the Financial Services and Markets Act 2000 that would require a respondent to make a money award exceeding the statutory cap provided in the Ombudsman scheme rules.”

WLR Daily, 25th May 2007

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.