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Committee on Public Petitions: Financial Services and Pensions Ombudsman Annual Report 2021 and Related Matters: Financial Services and Pensions Ombudsman (4 May 2023): ...against financial service providers. I can look beyond the contractual terms and consider the fairness and reasonableness of the conduct complained of. I can direct compensation of up to €500,000 and direct a provider to rectify the conduct that is the subject of the complaint, noting that there is no limit on the value of the rectification. In addition, every spring I publish a...
Committee on Public Petitions: Financial Services and Pensions Ombudsman Annual Report 2021 and Related Matters: Financial Services and Pensions Ombudsman (4 May 2023): Pat Buckley: That is very good. There were 4,781 complaints in 2022 and 4,647 of those were closed, with impactful outcomes for customers, including financial outcomes totalling more than €5 million for individual complaints were delivered. It is a good news story. I will definitely touch base with the office because we have a lot of complaints about vulture funds or alternative arrangements...

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