View more on these topics

How would journalists like having their own version of the FOS?

I feel I must respond to Nic Cicutti’s commentary under the heading, Seasonal complaint, where he cannot understand why IFAs are hostile to the Financial Ombudsman Service taking part in Complaints Day which offered a free iPad for the best complaint.

In fact, he goes on to say that if that is all some of you have to whinge about, then you need to get out more.

Well it may surprise Nic that we get out all the time seeing clients and know exactly what is going on. What concerns the IFA community is not the free iPad but the mindset of the FOS who are supposed to take a balanced view but are demonstrating their desire to encourage even more complaints.

But as a staunch socialist, Nic’s only concern is that the FOS got involved with a privately owned organisation, a cardinal sin indeed.

However, he will be pleased to know that a new quango is shortly to be established – the Journalists’ Monitoring Authority (JMA), with a highly paid chairman (hopefully myself), in some of the most expensive offices in London and index-linked pensions for all staff.

I will need the assistance of other senior staff all earning over £100,000 and a large number of employees although a good knowledge of journalism will not be necessary.

Once established, the JMA will charge all newspapers and journals ever increasing annual fees and any articles not properly researched will incur heavy fines.

In addition, you will be required to pay £500 for every reader’s complaint without right of appeal.

You will still be personally liable even when you retire. Hopefully, this will satisfy your desires for Government bureaucracy its very best.

Name and address supplied

Recommended

17

FSA appoints consumer education body chair

The FSA has appointed social policy group Lemos&Crane partner Gerard Lemos as the chairman of the Consumer Financial Education Body. Lemos is a partner at the social researchers where he leads its research team. He is the author of numerous books and reports about social policy and is a non-executive director of the Crown Prosecution […]

Mobius invests in Greece and mulls Palestine holding

Mark Mobius, executive chairman for Templeton Investments’ emerging markets team, is seeking stocks in a new wave of countries, buying into National Bank of Greece and applying for the ability to invest in Palestine. Mobius says it was possible but unlikely Greece will turn into an emerging market following the eurozone crisis.

 Despite the country’s […]

1

Treasury select committee issues OBR demands

The Treasury select committee has formally demanded that the Office for Budget Responsibility have its independence enshrined in law, as the Government gears up to establish the organisation in statute later this year. The MP committee has called for the OBR to be responsible for appointing its own staff and required by law to be […]

OBR chief wants guidance over whether to answer requests from opposition

Office for Budget Responsibility chair Robert Chote has questioned whether the body’s economic resources should be made available to opposition parties. Chote, who is also director of the Institute for Fiscal Studies, was formally appointed as OBR chair by the Treasury select committee last week. The OBR was set up by the coalition Government to […]

India: are further rate cuts on the horizon?

By Kunal Desai, head of Indian Equities, Neptune Kunal Desai, manager of the Neptune India Fund, discusses the key drivers of the Indian market’s outperformance and why he expects another rate cut, which will likely further support equities.  Read more here Important Information Investment risks The Neptune India Fund may have a high volatility rating […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. I’ll be the first to sign up!

  2. “although a good knowledge of journalism will not be necessary”.
    That is why nic will be first to join up!

Leave a comment