Results 18,481-18,500 of 35,829 for speaker:Pearse Doherty

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Financial Services and Pensions Ombudsman Bill 2017: Committee Stage (29 Jun 2017)

Pearse Doherty: Under the section the deputy Financial Services Ombudsman will become the new deputy in the new office. The ombudsman and the deputy of both offices will have a five-year term. Does the five-year term begin from the day of establishment of the office?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Financial Services and Pensions Ombudsman Bill 2017: Committee Stage (29 Jun 2017)

Pearse Doherty: I move amendment No. 5:In page 20, lines 30 and 31, to delete ", with the approval of the Minister and with the consent of the Minister for Public Expenditure and Reform,". This amendment deals with the independence of the office and it comes from the view discussed earlier to the effect that the section of the office concerning the Financial Services Ombudsman is self-funding through the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Financial Services and Pensions Ombudsman Bill 2017: Committee Stage (29 Jun 2017)

Pearse Doherty: As I said, my political instinct is that this is the right approach but there is an onus on us to question why it is happening. I may be wrong but do hospitals and the HSE have to receive ministerial approval before appointing or seeking information from consultants or advisers? I imagine not but perhaps that is the case. The Minister of State is right that the issue of consultants is a...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Financial Services and Pensions Ombudsman Bill 2017: Committee Stage (29 Jun 2017)

Pearse Doherty: To come back on this issue-----

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Financial Services and Pensions Ombudsman Bill 2017: Committee Stage (29 Jun 2017)

Pearse Doherty: Under this legislation, the new office will not be able to seek external advice or appoint any consultant without the express permission of the Minister and changing that will require a change in the law. The reference in the Minister of State's answer to Deputy Michael McGrath's comment about being outside expenditure limits is interesting but that is not what we are doing here. Will the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Financial Services and Pensions Ombudsman Bill 2017: Committee Stage (29 Jun 2017)

Pearse Doherty: Is it 50:50, like the Central Bank?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Financial Services and Pensions Ombudsman Bill 2017: Committee Stage (29 Jun 2017)

Pearse Doherty: Is that the new office?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Financial Services and Pensions Ombudsman Bill 2017: Committee Stage (29 Jun 2017)

Pearse Doherty: Is it not the case that at present, the old office, namely, the FSO, is solely funded through levies from the industry?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Financial Services and Pensions Ombudsman Bill 2017: Committee Stage (29 Jun 2017)

Pearse Doherty: At present the FSO is not a drain on Exchequer funding. We are merging two bodies, part of the new body is a drain on Exchequer funding because it is not funded by the industry. If I was taking a case against AIB that was being heard by the FSO and it wanted to hire a consultant it should be allowed to hire as many consultants as it wants because the only people paying are the industry....

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Financial Services and Pensions Ombudsman Bill 2017: Committee Stage (29 Jun 2017)

Pearse Doherty: At the minute the FSO does not have this requirement.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Financial Services and Pensions Ombudsman Bill 2017: Committee Stage (29 Jun 2017)

Pearse Doherty: We will leave it at that.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Financial Services and Pensions Ombudsman Bill 2017: Committee Stage (29 Jun 2017)

Pearse Doherty: The amendments I have tabled are Nos. 7, 9, 11, 18, 22 and 27. These six amendments all deal with the same issue, which is the four categories of determination that the ombudsman can make findings on as a result of this legislation. I welcome the fact that the proposal that I have made previously on my own legislation has been accepted by all parties. After further consideration and...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Financial Services and Pensions Ombudsman Bill 2017: Committee Stage (29 Jun 2017)

Pearse Doherty: I move amendment No. 17:In page 46, lines 4 and 5, to delete all words from and including “The” in line 4 down to and including line 5 and substitute the following:“On receiving a complaint, the Financial Services Ombudsman shall, as far as possible, try to resolve the complaint by mediation.”. This amendment proposes the deletion of section 58(1), the first...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Financial Services and Pensions Ombudsman Bill 2017: Committee Stage (29 Jun 2017)

Pearse Doherty: We all have to acknowledge that there has been a transformation in respect of how the office of the ombudsman deals with these cases and how financial institutions are engaging to try to resolve them informally, through mediation and through the decision process. There has been a step-change in how the office is dealing with this in respect of a large number of cases. I understand that in...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Financial Services and Pensions Ombudsman Bill 2017: Committee Stage (29 Jun 2017)

Pearse Doherty: That is fine. I accept the bona fides of the Minister of State in his approach to this section, which is about trying to ensure the best outcome, based on mediation and the informal process, is maintained. However, the existing legislation does contain the word "shall" and provides for a large percentage to be resolved through mediation and the informal mechanism. That provision has not...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Financial Services and Pensions Ombudsman Bill 2017: Committee Stage (29 Jun 2017)

Pearse Doherty: I move amendment No. 24:In page 50, between lines 23 and 24, to insert the following: "(a) within 35 days of the date of notification of the decision of the Financial Services Ombudsman, or". Amendment No. 24 deals with the length of time an individual, financial institution or pension provider has to appeal a decision to the High Court. Currently, the timeframe in this regard is quite...

Written Answers — Department of Finance: Central Bank of Ireland Supervision (29 Jun 2017)

Pearse Doherty: 81. To ask the Minister for Finance the notifications received by the Central Bank to date under chapter 3.12 of the consumer protection code by notifying bank, date of notification and branch location; and if he will make a statement on the matter. [30529/17]

Written Answers — Department of Finance: Central Bank of Ireland Supervision (29 Jun 2017)

Pearse Doherty: 82. To ask the Minister for Finance the compliance measures the Central Bank put in place to ensure that the obligations under chapter 3.12 of the consumer protection code are met after notification is received; the action the Central Bank has taken in cases in which the notifying bank failed to meet the obligations; and if he will make a statement on the matter. [30530/17]

Written Answers — Department of Finance: Central Bank of Ireland Supervision (29 Jun 2017)

Pearse Doherty: 83. To ask the Minister for Finance if the obligations under chapter 3.12 of the consumer protection code apply to cases in which a bank is drastically reducing its services at a branch; and if he will make a statement on the matter. [30531/17]

Written Answers — Department of Finance: Mortgage Lending (29 Jun 2017)

Pearse Doherty: 84. To ask the Minister for Finance if his attention has been drawn to the clause (details supplied) now contained in some updated mortgages; if he or the Central Bank is of the view that such a carte blanche exemption from liability is within the spirit of the codes of conduct; and if he will make a statement on the matter. [30533/17]