Mr Mathers (FA, 17 July) has raised the matter of a spurious claim against him and the Financial Ombudsman Service’s involvement. He should simply either not reply, or advise the firm that the Fos only covers claims post 1988. And not worry about it. Long-stops will never cover fraud like this - a specious claim against him.
The FCA’s DISP rules are clear – even if they are not helpful in providing the exact dates for compulsory cover, etc, which they should be. The allegation to the Fos of ‘outside of jurisdiction’ should be enough to stop the initial processes in their steps and, if not, you can ask for an Ombudsman to rule on jurisdiction before the process of considering the complaint starts.
Philip Milton
Chartered financial planner
Philip J Milton & Company
Barnstaple, Devon
