UK - Small businesses and investors have been warned not to ignore the Financial Ombudsman Service and go straight to court.
Law firm Reynolds Porter Chamberlain says traditionally courts have ordered the loser to pay the winner’s costs.
But RPC partner Harriet Quinney says changes to the Civil Procedure Rules allow the courts to penalise claimants by reducing the amount of legal costs awarded if it believes that alternative dispute resolution should have been used. ADR can include mediation or use of an alternative tribunal – such as the FOS.
Railways Pension Trustee Company chief executive Phil Willcock has quit the scheme after only 10 months to take up a position as head of AIG UK Life.
The Financial Conduct Authority (FCA) has launched a consultation on how to enable defined contribution (DC) savers to invest in patient capital via unit-linked funds.
The Pension Protection Fund has published its final levy rules for 2019/20 following a consultation launched in September.
The Competition and Markets Authority's (CMA) final report on the investment consultant market has been celebrated as having "real teeth" to produce better outcomes for members.