FSPO Amendment Act 2025: Greater Access To FSPO For Consumers

The Financial Services and Pensions Ombudsman (Amendment) Act 2025 (the "Act" - here) has now been commenced, coming into force on 9 May 2025. The Act brings greater clarity and efficiency to the Financial Services and Pensions Ombudsman (the "FSPO") complaints process by amending certain provisions within the Financial Services and Pensions Ombudsman Act 2017 (the "2017 Act").

The FSPO (Amendment) Bill 2023 was initially introduced following the ruling in Zalewski v Adjudication Office & ors [2021] IESC 24 ("Zalewski"), relating to the exercise of a quasi-judicial function. The Act reflects this judgment to allow the FSPO to continue to carry out its statutory function in accordance with the Constitution. In addition to this, the Act expands the meaning of 'financial service provider' to bring a wider range of entities within scope of the FSPO's jurisdiction and provides further detail generally in respect of the FSPO's functions.