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ARTICLE · 08 JUNE 2017

Financial Services Ombudsman: Proposed New Time-Frame For Complaints

Arthur Cox
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On 10 May 2017, the Minister for Finance announced the publication of the Financial Services and Pensions Ombudsman Bill 2017.

IrelandFinance and Banking
Robert Cain
Robert Cain
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On 10 May 2017, the Minister for Finance announced the publication of the Financial Services and Pensions Ombudsman Bill 2017.

The Bill proposes to combine the offices of the Financial Services Ombudsman (FSO) and the Pensions Ombudsman. Combining those two offices has been under consideration since 2013. When the Bill becomes law, consumers with complaints about either financial products or the conduct of pension providers will deal with one combined entity (to be known as the Office of the Financial Services and Pensions Ombudsman).

The Explanatory Memorandum to the Bill provides a useful summary of its provisions. Notably, changes will be made to the time-frames within which certain complaints can be made.

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