Michael McGrath (Cork South Central, Fianna Fail)
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145. To ask the Minister for Finance if a restriction applies to staff at the Financial Services Ombudsman office arbitrating on a case involving a firm in which they were previously employed; and if he will make a statement on the matter. [20014/14]

Michael Noonan (Limerick City, Fine Gael)
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I am informed that the Financial Services Ombudsman's Bureau considers that the former employment of a member of the Bureau by a regulated financial services provider which may be the subject of a complaint before the Bureau, does not of itself preclude that member of the Bureau from engaging in a mediation, investigation or adjudication involving that financial services provider in the absence of any particular circumstances which might materially adversely affect the impartiality of the Bureau member vis-à-vis that financial services provider.

Where such particular circumstances may arise, for example, where the Bureau member may be aware of particular facts involving that complaint or may have been privy to information particular to that complaint arising from their former employment, such that their impartiality might be compromised, the policy and practice of the Bureau is to ensure that mediation, investigation or adjudication is carried out by another member of the Bureau.

I am informed by the Financial Services Ombudsman's Bureau that, prior to assigning a Bureau member to the mediation, investigation or adjudication of any complaint received, the Financial Services Ombudsman ensures that no conflict of interest arises on the part of that Bureau member such as would materially adversely affect the impartiality of that Bureau member in the mediation, investigation or adjudication of that complaint.  In the event that such a conflict arises, the mediation, investigation or adjudication of the relevant complaint is assigned to another member of the Bureau where no such conflict arises.

The staff of the Bureau is composed of persons from a broad variety of backgrounds and relevant experience including some members with financial industry experience. The Financial Services Ombudsman is satisfied that no conflict of interests (real or perceived) affects any of the services offered by the Bureau, including mediations, investigations or adjudications.