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FOS payout cap hike could hit PI costs

An increase in the Financial Ombudsman Service compensation cap for small businesses could hit advisers’ professional indemnity insurance premiums. In a discussion paper published last month on small businesses, the FCA outlined options for expanding the criteria for FOS complaints. It said as a result the maximum award limit might need to be raised from […]

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Towry scraps float plans for quick sale

National advice firm Towry has abandoned plans to float on the stock market in favour of a sale in the new year. In June, private equity backer Palamon Capital Partners met with advisers to discuss a listing but has since hired investment bank Evercore to find new investors. It is expected Palamon will sell its […]

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