Oireachtas Joint and Select Committees
Wednesday, 22 March 2017
Committee on Public Petitions
Engagement with Financial Services Ombudsman
1:30 pm
Mr. Ger Deering:
From our point of view, it is a matter not so much of sanctions as of compensation for the individual. The Central Bank may fine people and has done so on certain occasions. That would be a matter for the Central Bank. In our case, the sanction for not implementing the code is that we can award compensation to the individual concerned, which, frankly, in such a situation, is the most important thing to the individual.
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