DISPUTE RESOLUTION

The Financial Services Authority (FSA) is the custodian of a whole section on dispute resolution in its handbook. The biggest challenge that the industry faces in this area is the interpretation of this section, dependent upon each type of complaint.

The Financial Ombudsman Service (FOS) is reporting increases in mortgage and payment protection insurance complaints as customers are unable to resolve their disputes. This is complicated by the involvement of the complaints management companies. FOS have issued a guide for businesses.

The Association of Mortgage Intermediaries (AMI) also has a page of useful FSA links and AIFA (the Association of Independent Financial Advisers) have information on using a compliance consultant.

The Telos Compliance service is able to provide a dispute resolution service supported by expert legal advice to enable firms to achieve a fair outcome for all and take the liaison and education of Professional Indemnity Insurers into account..