SJP refuses to compensate unwell man mis-sold life policy above FOS limit

According to the Financial Ombudsman Service (FOS), a couple named Mrs and Ms J were sold whole life policies by advice giant St James' Place (SJP). The pair initially complained the commission on the policies was "hidden and unfair", and their reviewable nature made them unsuitable. SJP offered to refund the premiums on the policies plus interest, which Ms J accepted. Due to suffering ongoing health issues, however, Mr J took his complaint to the ombudsman. SJP was ultimately asked to compensate Mr J £150,000 - the maximum amount the FOS can request for complaints referred to it b...