The FOS is not perfect, but the alternatives are definitely worse

If you as an adviser have done wrong by a client, the FOS is going to ask you to pay up.  It's an imperfect system. Recent stories like an adviser who lodged a complaint against advice they gave themself show that. The same week, one adviser called for FOS to be abolished entirely. That sounds like a simple solution but it is not the right one, for a whole host of reasons. One piece of a puzzle To start with, it's helpful to lay out exactly what FOS is, and what it is not. It does not make the rules. That is the Financial Conduct Authority's (FCA) job; to set out acceptable c...