Oireachtas Joint and Select Committees

Tuesday, 25 May 2021

Committee on Public Petitions

Financial Services and Pensions Ombudsman Reports 2018 and 2019: Discussion

Photo of Cormac DevlinCormac Devlin (Dún Laoghaire, Fianna Fail)
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Absolutely. I thank Mr. Deering for that. I congratulate the ombudsman and all the staff in the office or, as the case may be, working remotely for that. That is a phenomenal number of cases. For all to be dealt with remotely, credit where credit is due on that. I look forward to seeing the new strategic plan for Mr. Deering's role.

I have a similar question to some colleagues who spoke earlier. With the pending exit of other financial institutions including Ulster Bank, KBC and, more recently, Provident, going back to my earlier question in terms of the historical cases, what would happen in the scenario where somebody has raised an issue or maybe something comes to light but the entity has in theory left this jurisdiction? If it were a British entity, that would probably complicate matters further.

In terms of Brexit, since it is probably on our lips in this question, has the impact brought any new financial regulatory issues to the ombudsman's door, given that some firms may have relocated their head offices, be it here in Ireland or in other European jurisdictions?