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Alan Lakey to run FOS clinic with Panacea

Former Apfa council member Alan Lakey will run an online clinic designed to answer adviser queries about issues including the Financial Ombudsman, claims management firms and the long-stop.

Partnering with Panacea Adviser, Money Marketing columnist Lakey will answer questions through the new ‘Dr FOSgood’ site.

Lakey quit the Apfa board last month, complaining that “there is a political inner circle within Apfa which means ideas can be squashed before they have a chance to be considered”.

Lakey is also senior partner at Highclere Financal Services. In October last year he was awarded £340 through the small claims court after contesting a payment protection insurance misselling claim from a claims management firm.


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There are 3 comments at the moment, we would love to hear your opinion too.

  1. Alan I wish you all success! A good starter for ten would be: ‘Who regulates the FOS’. Despite being created under the auspices of what is now the FCA and designed to interpret its rules, so far the denials of responsibility run as far as the FCA, The Treasury or, well, anyone really…. I am unaware otherwise of any entity which does not have some final accountability to somebody or organisation/government?

  2. Philip, you want to add an additional layer of regulation to the current process??!!

    A regulator of the ombudsman that opines on decisions made regarding situations that couldn’t be resolved directly – The financial ombudsman ombudsman?

    And then I suppose they will need regulating too, so we should have and ombudsman ombudsman ombudsman, then we should set up a further ombudsman to regulate them…

  3. Dear Matthew

    You miss my point. The Ombudsman Service appears not to be accountable to anyone. It creates its own rules, its own precedents, etc, without check so it appears. Its logic (or lack of, let alone decisions) cannot be challenged by anyone, not even the Courts, even if fundamentally flawed or counter to precedent, practice or the rules.

    Without wishing to be patronizing but I suspect you have not had such experience – just read some of the published case studies….

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