Profiles Banking and finance UK Middle man: Paul Bentall, Financial Ombudsman Service By The Lawyer 18 November 2008 10:45 17 December 2015 15:51 Sign in or register to continue reading. It's FREE Sign in Email Password Keep me logged in Forgot your password? Not registered? It's FREE! Register now Register with The Lawyer Phil Castle (IFA), Director Financial Escape Ltd 19 November 2008 at 18:34 Why does the FOS believe it has the right to ignore the 15 year long stop for Professional Negligence My firm has never had a complaint in front of the FOS. Many advisers have consistently stated to the FOS and others, taking away the legal right to a 15 year longstop defence is stealing through Regulatory dictate what is rightfully ours through statute legislation which the FSA has chosen to ignore. We are not bankers. We were not bankers, we were/are folk who gave their all to the public and who simply want a defence against “stale” claims, often provoked by claims farmers, but for which the FOS charges a “case fee” regardless of outcome, thus it’s a fine for being innocent despite having, as IFAs, the lowest complaints ratio yet unlike other institutions, it is OUR own money at risk, not shareholders or policyholders and so we demand IFAs be allowed to CHOOSE to use the 15 year longstop where relevant, just as you as lawyers are allowed to. Reply Link Steve Pett 24 November 2008 at 16:36 FOS Power If you are not good enough to become a judge, FOS is the place to start. Even their junior staff have more power than the Law Lords. That’s democracy for you! Reply Link Name Email Cancel reply Threaded commenting powered by interconnect/it code.