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Escrow call for FOS case charges

The IFA Defence Union is calling on the FOS to allow advisers to set up escrow accounts so case fees are returned if the FOS loses its appeal in the Pickering case.

An escrow account, which costs around £50 to set up, would ensure the FOS receives the fee if its appeal is successful but not if it fails.

IFADU chairman Evan Owen says: “There is no point in advisers saying we are not going to pay and there is no point in them paying the money because if the FOS loses they will not get it back.”

FOS spokesman Martyn James says: “The legal position in relation to case fees remains unchanged. It is not expected that the court decision would be retrospective in terms of case fees already charged.”


MorganAsh starts tele-interviews with protection claimants

Protection outsourcing company MorganAsh will begin tele-interviews on claims from next month in a move which is expected to speed up the payment of claims significantly.Instead of claimants filling out a claim form, a trained MorganAsh nurse will call them to determine their medical and financial situation.MorganAsh will then pro- duce a report, which will […]

Click is first for Officeweb CRM system

The Exchange is offering a new call-centre customer relationship management system based on its Officeweb back-office technology.The system is now operating with independent secured loan and life cover specialist Click. Developed first for Click and in partnership with contact-centre software provider Callmedia, the Officeweb call-centre solution is available off the shelf for financial intermediary businesses […]

100 More FSA staff to monitor banks

The FSA is expected to recruit up to an extra 100 staff to monitor the big banks in a bid to avoid another Northern Rock debacle. The FSA publishes the results of an internal investigation this week into how it handled the Northern Rock debacle.


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