Results 19,001-19,020 of 36,355 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: Are the powers of regulation, therefore, being transferred from the council into the hands of the Minister? Is that what section 4 does?

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

Pearse Doherty: In principle, I do not oppose those powers being held in an individual or organisation, which can be held democratically accountable. I am concerned when important powers are transferred. For example, the powers relate to the top-up of awards and the maximum amount an individual can receive. I am concerned when such powers are being shifted away from the council without debate. This is...

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

Pearse Doherty: This relates to the establishment day and goes to the core of the legislation outside the most important element, which is consumer protection. This refers to the rationale for merging the FSO and the PO. I will not oppose this but I am not convinced that an argument has been made that this should take place. The Government has relied on the work done by Mr. Richard Hinz as a justification...

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

Pearse Doherty: There is concern that there will be a lack of focus in respect of expertise in particular areas. For example, when two bodies, which cover different products, are merged, the expertise and focus on either financial products or pension products could diminish. They are separate and I am not convinced that a justifiable rationale has been provided as to why these bodies, which carry out...

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

Pearse Doherty: Section 7 deals with the establishment of the office. There is no way that this new office will be able to operate and meet the demands of the public unless it has additional resources. That will be required from the first moment. Will the Minister of State enlighten us as to how many staff are currently in each office and how many will be in place after the establishment of the office of...

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 would appreciate it if we could return to this on Report Stage. I am not sure if the council has made recommendations. Indeed, there are two different councils. There must be an awareness in the Government that the number of personnel will have to be increased. The six-year rule and its retrospective element allows for potentially 3,000 or more applications to be submitted immediately....

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...