Written answers

Tuesday, 1 June 2010

Department of Finance

Banking Sector Regulation

10:00 am

Photo of Joan BurtonJoan Burton (Dublin West, Labour)
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Question 151: To ask the Minister for Finance the average delay in commencing investigations by the Financial Ombudsman's Office; the number and proportion of cases in which the delay in commencing an investigation is more than 12 weeks and more than 16 weeks; the reason for these delays; the steps being taken to rectify this situation; and if he will make a statement on the matter. [22876/10]

Photo of Brian Lenihan JnrBrian Lenihan Jnr (Dublin West, Fianna Fail)
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The Financial Services Ombudsman was established on a statutory basis as an independent body to deal with complaints from customers of financial services providers. The Minister for Finance has no involvement in the day to day workings of the Financial Services Ombudsman. In the circumstances, it would not be appropriate for me to make any statement in relation to the Deputy's question.

The Deputy may wish to note that the latest annual report from the Financial Services Ombudsman (for the year 2008) gives an account of the number of complaints received since the service was set up, the number resolved and closed and the number on hand at end 2008. However, I am advised by the Financial Services Ombudsman that the commencement of an investigation takes between 12 and 16 weeks once the decision to investigate a case has been taken.

I am advised that the reason for this is the increase in the number of new cases which the Ombudsman has received over the past two years along with the changes to the procedures as set down by a ruling of the High Court in June 2008.

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