Shiregem Asset Manage-ment principal David Pan-try says his concerns over the legality of the payment were brushed aside by the ombudsman and he is alarmed that IFAs can be put in a position where fulfilling FOS requirements could lay them open to further censure. The payment was eventually given to the clients in cash. The original claim made against Pantry was for selling death-in-service cover to two company directors who, several years later, decided they did not need this cover as they had left their respective spouses, who would have benefited from the policy, and ran off together. The ombudsman considered that the policy had been missold and also took Pantry to task over a pension transfer that he had carried out at the couple’s request, he says. Pantry says: “I have been claim-free for over 24 years and this case stinks. It is worrying that people who are put in place to protect consumers do not know the rules and they are loading the industry with costs.” The FOS says it cannot comment on individual cases.