Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

The amendment seeks to require the Financial Services Ombudsman to include in its report the responses of the financial services provider to complaints made and reported by the Financial Services Ombudsman. However, I am satisfied that the naming provisions provided for in the Bill are sufficiently robust to provide consumers with information to assist them in making decisions about availing of the services of particular financial service providers.

I am of the view that providing a further requirement for a response by the financial service providers is not required to strengthen this provision. The requirement would be unduly burdensome with little added value. It should also be noted that when investigating any complaint against a financial service provider, the ombudsman would require a response from the provider before making a decision on whether to uphold a complaint or not. Accordingly, I do not propose to take on board the amendment tabled by Senator Barrett.