An IFA couple who lost a landmark ruling on Financial Ombudsman Service fees in the Court of Appeal this month are to take their case to the House of Lords.
Brian and Dolly Pickering, who run Heather Moor & Edgecomb, are preparing a petition to the House of Lords to contest the Appeal Court’s rejection of an April county court ruling which declared it unfair for advisers to pay a case fee where complaints are not upheld.
An FOS spokesman says: “If HME does petition the House of Lords, we will have to wait and see how that progresses before we can comment further.”
The FOS has yet to decide whether to enforce Court of Appeal costs on HME. It brought the initial case against the two HME directors after they refused to pay four case fees of 360 each for cases that were not upheld.
HME is also preparing a petition to the House of Lords to contest another Appeal Court case in which it contended the FOS should follow common law in resolving complaints. The Appeal Court judges ruled this is not the case.
In a separate case, HME is appealing against a Financial Services and Markets Tribunal ruling that upheld an FOS decision for the firm to pay 6,349 compensation to a client.