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Flawed logic in watchdog legal stance

The Financial Ombudsman Service’s reasoning that adjudicator decisions are not crucial as they can be reversed by an ombudsman is “strange logic”, says Fishburns Solicitors.

Speaking at a Fishburns financial services seminar in London last week, partner Andrew Davis said the FOS’s response to claims that adjudicators are struggling under a heavy workload and are making wrong decisions as a result is concerning.

Last month, former FOS adjudicator Jane Sanders told Money Marketing that the pressure being placed on ombudsman staff to hit targets is resulting in wrong decisions being made.

She said there are only a small number of FOS managers who supervise adjudicators so many decisions are not being properly assessed.

An FOS spokesman said at the time: “Adjudicator decisions are not final and firms can refer cases to an ombudsman for consideration if they are not happy with the outcome.”

Davis said: “Saying a decision from an adjudicator is only the first instance because an ombudsman can set it right is a bit like saying a district court decision does not matter because the Appeal Court will set it right. It is a very strange attitude.”



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