Qualified Entities The purpose of the Representative Actions for the Protection of the Collective Interests of Consumers Act 2023 is to transpose Directive (EU) 2020/1828 of the European Parliament and of the Council of 25 November 2020 on representative actions for the protection of the collective interests of consumers and repealing Directive 2009/22/EC; and to provide for related matters. The Act sets out the criteria […]
FSPO Established The purpose of the Financial Services and Pensions Ombudsman Act 2017 is to: provide for the establishment of the Office of the Financial Services and Pensions Ombudsman provide for the appointment of persons to be the Ombudsman and Deputy Ombudsman extend the time limits for consumer complaints in relation to long-term financial services to provide for the dissolution of the Financial Services Ombudsman […]
Making of Complaints There are various types of complaints that may be made to the Ombudsman. A complainant can complain about the conduct relating to provision of financial services; offer of financial services; failure to provide financial services; financial loss or dispute in relation to certain pensions or any complaint received by the Ombudsman before establishment day that was outside the applicable time limits at […]
Complaints Procedure The Ombudsman may accept a complaint against a financial service provider or a pension provider that has initiated legal proceedings in relation to a matter to which the complaint relates, where the Ombudsman believes, based on reasonable grounds, that the financial service provider or the pension provider, as the case may be, has begun those proceedings in order to prevent the making of […]
Conduct of Investigation The conduct of investigations is undertaken as the Ombudsman considers appropriate in all the circumstances of the case and in a manner that is appropriate and proportionate to the nature of the complaint. The Ombudsman shall advise the parties to the complaint in writing of the conduct of investigation to be undertaken Where the Ombudsman proposes to conduct an investigation into a […]
Appeals A party to a complaint before the Ombudsman may appeal to the High Court against a decision or direction of the Ombudsman. An appeal under this section shall be made— not later than 35 days after the date of notification of the decision of the Ombudsman, or within such further period, as the court considers just and equitable in all the circumstances. The orders […]
Pensions Ombudsman The Pensions Ombudsman has jurisdiction in relation to certain pension matters. The Pension Ombudsman investigates complaints referred by actual or potential beneficiaries of occupational pension schemes or PRSAs where the loss is alleged to have been suffered by maladministration. It may investigate a dispute in relation to of facts and law by actual or potential beneficiaries in relation to acts done in the […]
FSO The office of the Financial Services Ombudsman was established in 2004. It may hear and adjudicate on complaints against a very wide range of financial institutions. This includes, for example, banks, insurance companies, building societies, health insurers, mortgage insurance and credit intermediaries, moneylenders and stockbrokers. The office is to investigate a complaint if it is within its jurisdiction. The complaint must be made within […]