Share on LinkedInShare on LinkedIn

ARTICLE · 12 MARCH 2012

Financial Services Ombudsman Update - March 2012

Matheson
Explore more from Matheson

William Prasifka, the Financial Services Ombudsman (the "FSO") recently published his office’s bi-annual review which analyses all complaints received and findings made by the FSO in the first six months of 2011.

IrelandFinance and Banking
Joe Beashel
Joe Beashel
Author LinkedIn connections

Bi-annual Review

William Prasifka, the Financial Services Ombudsman (the "FSO") recently published his office's bi-annual review which analyses all complaints received and findings made by the FSO in the first six months of 2011. Its results show an overall increase in the number of complaints received and the percentage of findings upheld against financial services providers has also increased. The majority of complaints (48%) were specific to the insurance sector. Of the remaining complaints, 37% related to banking, 13% were in respect of investment services and 2% related to non-financial services providers.

Publication of Complaints Records

The FSO has received a number of submissions regarding his recent proposal to publish the complaints records of individual financial services providers in future annual reports.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Final EBA Guidelines On The Sound Management Of Third-party Risk: What Financial Entities Need To Know

The European Banking Authority has published final Guidelines on the sound management of third-party risk regarding non-ICT services, replacing the 2019 Outsourcing Guidelines and introducing a broader regulatory framework. Financial entities will need to navigate expanded scope requirements, enhanced governance standards, and alignment with DORA while managing compliance timelines and contractual obligations.
IrelandFinance and Banking
Arthur Cox
Arthur Cox
Article

Alternative Investment Funds

Ireland offers a sophisticated regulatory framework for Alternative Investment Funds, with structures ranging from ICAVs and Investment Limited Partnerships to Unit Trusts and Common Contractual Funds. The jurisdiction provides flexible options for both retail and institutional investors, with distinct regulatory pathways for RIAIFs, QIAIFs, and ELTIFs, each designed to accommodate different investment strategies and liquidity profiles while maintaining robust investor protections.
IrelandFinance and Banking
K&L Gates
K&L Gates
Article

SFDR 2.0 Trialogue Negotiations: Key Areas Of Focus For Fund Managers

The European Commission's proposed overhaul of the SFDR regime is entering crucial trialogue negotiations, with the Irish Presidency aiming to reach agreement by year-end. While the Council and Parliament have aligned on key issues like professional investor opt-outs, significant divergences remain on exclusion criteria for Transition funds, PAI reporting requirements, and engagement strategy disclosures that will shape the future of sustainable finance regulation.
European UnionFinance and Banking
Dillon Eustace
Dillon Eustace