Written question asked by Lord Stunell (Liberal Democrat) on Tuesday, 5 April 2005, in the House of Commons. It was due for an answer on Thursday, 7 April 2005. It was answered by Stephen Timms (Labour) on Thursday, 7 April 2005 on behalf of the Treasury.

Treasury

Question: To ask Mr Chancellor of the Exchequer, if he will require pensions advisers to comply with compensation assessment findings by the Financial Ombudsmans Service; and if he will make a statement.

Answer: Mr. Stunell: To ask the Chancellor of the Exchequer if he will require pensions advisers to comply with compensation assessment findings by the Financial Ombudsman Service; and if he will make a statement. [224947] Mr. Timms: Under the Financial Services and Markets Act 2000, all authorised firms and persons are required to comply with the decisions of the Financial Ombudsman Service. Under the Act, if the complainant notifies the ombudsman that he accepts the determination, it is binding on the respondent and the complainant and is final.

Secondary information

Type: Written question
Reference: 432 c1569W;432 c1565W; 224947
Session: 2004-05
Subjects: Complaints Compensation Advisory services Financial services Pensions Financial Ombudsman Service
Link: View this Written question on www.publications.parliament.uk