Financial Ombudsman Service

Within the items listed below we feature comment that we consider well-informed. We don't necessarily endorse the views expressed nor do we seek to give financial advice.

News:

• 22 January '03 - The Financial Ombudsman Service:
  The FOS currently has 2,500 complaints about Equitable Life that are gathering cobwebs. Every two months they write to all complainants. The last said that Equitable is preparing a compromise (which may mean they won’t have to do anything) but we will write to you again in two months. The next instalment is due next week. On Equitable, thus far, the FOS has been a disgrace to the concept of an ombudsman providing a fair, individual adjudication. The FOS has a section on its website devoted to Frequently Asked Questions: http://www.financial-ombudsman.org.uk/faq/equitable.htm
• 29 October 2002 - "E 7" press release: Equitable Life's policyholder groups accuse Treasury of cover-up and call for a comprehensive study by the Parliamentary Ombudsman
• 7 October 2002 - Ombudsman walks away from Equitable Life's late joiners, article by Simon Bain

Correspondence:

• 23 April '03 - Letter to the FOS
  EMAG has written to the Financial Ombudsman Service to reiterate its concerns about delays and apparent collusion with the Society and the FSA.
• 11 December '02 - Letter from the new Parliamentary Ombudsman
• 22nd November '02 - Alex Henney's letter to Glenda Jackson MP
  Regarding the Penrose enquiry and the failure of the Parliamentary Ombudsman
• 5th November, 2002 - Open letter to the non-executive board members of Equitable regarding FSA & Parliamentary Ombudsman