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  • FOS adjudictors

    I was wondering if any one knows do FOS adjudicators have any formal financial Services/banking training???

  • #2
    Re: FOS adjudictors

    Any use?

    panel of ombudsmen

    Comment


    • #3
      Re: FOS adjudictors

      Thanks

      It was the adjudicators I was more interested in , but I'm abit depressed now the head ombudsmans in charge of banking complants is from HSBC who the compliant I have going though at the moment is with

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      • #4
        Re: FOS adjudictors

        Thats a good question.

        I thought FOS adjudicators were school leavers but may be wrong.

        Comment


        • #5
          Re: FOS adjudictors

          I would request that the matter is dealt with by someone else as there appears to be a conflict of interest there.

          Adjudicators have no formal training in ajudicating complaints as such they just have to go by the FOS rule book.

          Regards

          Comment


          • #6
            Re: FOS adjudictors

            Lets be clear, FOS is financed wholly by the finance sector and hence by definition is biased and bent. The only use for them is costing the banks money because every complaint you and I make costs the banks a fee which used to be about 450.

            Any but any government regulator is suspect in my view. If you want dispute resolution procedures , then take a look at a few legal websites. It is now such a complex nonsense, lawyers actually specialise in dispute resolution for a career.

            regards
            Garlok

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            • #7
              Re: FOS adjudictors

              costs the banks a fee which used to be about 450.
              Garlok,

              That fee is now 500 sobs

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              • #8
                Re: FOS adjudictors

                Even better!

                Comment


                • #9
                  Re: FOS adjudictors

                  Maybe this would help.

                  http://www.financial-ombudsman.org.u...djudicator.pdf

                  http://www.adecco.co.uk/en-GB/career...?job-id=101569

                  http://www.financial-ombudsman.org.u..._ccd-adjud.pdf

                  As found on here.
                  http://www.financial-ombudsman-problems.co.uk/
                  Last edited by di30; 5th July 2011, 23:10.

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                  • #10
                    Re: FOS adjudictors

                    very interesting, I tell you one thing other if you want to get some interest info out of them , send in a SAR, they wouldn't do a complete one but they did send me bank info that had either been redacted or missed when I SAR'edthe bank.

                    Saying that the adjudicator , didn't understand what he was sent anyway!!!

                    Comment


                    • #11
                      Re: FOS adjudictors

                      Thanks Di

                      Niddy goes and applies for an adjudicator job

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                      • #12
                        Re: FOS adjudictors

                        Qualifications of FOS Adjudicators is a grey area. The salary paid to Adjudicators is unlikely to attract high fliers in the financial world. They are also paid a bonus for hitting targets for case closures. Most FOS cases are decided by adjudicators, but you can ask for your case to be passed to an Ombudsman, this causes further a lengthy delay.

                        FOS have been reported as unwilling to reveal their adjudicators' qualifications
                        http://www.moneymarketing.co.uk/1017...ype=newsletter

                        As reported by Anthony Speight QC, Jane Sanders the FOS whistleblower has made some comments about this as well. "Whilst at FOS, I was told that I must reply, when challenged, that my qualifications have no bearing on the job at hand; I do the job at hand because FOS says I am competent to do so. Under no circumstances was I to reveal my qualifications".
                        http://www.financial-ombudsman-probl...stleblower.htm

                        Here is what one FOS claimant reported about his adjudicator as evidence to the Lord Hunt Review of the FOS

                        "The Adjudicator's first letter to me, summing up the issues, included two points from my written evidence but omitted several others. She also added two points I had not made at all, one of them trivial which had been dropped by me years before, but still appeared in the firm's evidence. She therefore used the firm's evidence, rather than mine, to assess my case. She has apologised, but the standards applied are obvious. Omitting important issues and inserting trivial ones, throws doubt on her abilities. Additionally she showed my letters and evidence to the Bank, but I was not shown theirs, she mis-understood the amount that was intended to be invested by an staggering 44,000 (though the Ombudsman eventually corrected this), she did not pick up crucial dates even though these were written on the contract documents, in fact she did not accept that the financial documents signed by my Aunt and the firm actually formed a contract at all. She thought compensation interest paid as bare base rate was fair even though any number of higher rate accounts were available. She declared an old lady (84) who inherited a portfolio to be an experienced investor, though she only had bank and building society accounts before this and never traded any shares. A final amount invested by the Bank was 27,000 more than originally agreed, without written confirmation that my Aunt agreed to this change, but this did not concern the Adjudicator. She was unconcerned that my Aunt aged 84 had been advised to reduce her cash assets to 7% of her wealth. She thought the firm had adequately monitored my Aunt's investments even though, when she became ill and entered a care home she had insufficient funds in cash to pay for her initial month's fees. She approved the firm's offer as fair and reasonable even though it wrongly included a 20% tax deduction, but could not explain why tax had been deducted when I asked her. I do not think the Adjudicator had adequate skill and experience to handle a case of this complexity".

                        Full evidence to Lord Hunt
                        http://www.financial-ombudsman-problems.co.uk/full.htm

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                        • #13
                          Re: FOS adjudictors

                          Sending a SAR to the FOS that is an interesting point and one that never crossed my mind during the fuck up in my FOS case.

                          Think I will send one to the FOS specially as they have original copies that I requested to be returned after closure which they have not done.

                          Thank You
                          Last edited by pompeyfaith; 4th November 2011, 22:22.

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                          • #14
                            Re: FOS adjudictors

                            Good Post Grannie. Very interesting, very interesting indeed...........

                            Comment


                            • #15
                              Re: FOS adjudictors

                              Originally posted by Never-In-Doubt View Post
                              Thanks Di

                              Niddy goes and applies for an adjudicator job
                              Particularly if working in London

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