FCA defends 'inconsistent' FOS decision making

The Financial Conduct Authority (FCA) has defended the Financial Ombudsman Service (FOS) from allegations of inconsistent case verdicts.

In a guidance consultation on investment distribution models, it said it "should not be seen as surprising" that the Ombudsman reaches different decision on complaints which share surface similarities. Earlier this year, the Association of Professional Financial Advisers (APFA) raised public concerns over the FOS's adjudicating, suggesting its decisions in cases involving advisers leaned towards the complainants. But the FCA, which has been told the threat of action by the FOS is preventing the development of simplified advice models, has defended the ombudsman, saying it listens "to ...