Michael McGrath (Cork South Central, Fianna Fail)
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273. To ask the Minister for Finance his plans to change the rule whereby a person can only submit a complaint to the Financial Services Ombudsman in respect of a product sold to them within the past six years; if he accepts that this rule excludes many consumers from being able to take a case to the Financial Services Ombudsman; and if he will make a statement on the matter. [40995/14]

Michael Noonan (Limerick City, Fine Gael)
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Firstly, I must point out that the Financial Services Ombudsman is independent in the performance of his statutory functions and it would not be appropriate for me to comment on how he performs those duties.

Under the Central Bank Act 1942, as amended, a consumer is not entitled to make a complaint to the Financial Services Ombudsman if the conduct complained of occurred more than six years before the complaint is made.

As the Deputy may be aware, my Department is currently progressing the amalgamation of the Offices of both the Financial Services Ombudsman and the Pensions Ombudsman.  A Steering Group chaired by my Department with representatives from the Financial Services Ombudsman, the Pensions Ombudsman, the Departments of Public Expenditure and Reform and Social Protection is meeting to consider the best way to progress the amalgamation.

The question of the timeframe under which complaints can be reviewed is a policy matter which will be considered as the legislation to effect the amalgamation is being developed. I am of course mindful of the need to provide the necessary protection to the consumer over the longer term. However, the issues in this regard are complex involving a range of considerations including the interface with the Statute of Limitations, existing consumer protection laws, complaints mechanisms and the availability of records.

Michael McGrath (Cork South Central, Fianna Fail)
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274. To ask the Minister for Finance the further recourse a person has if the Financial Services Ombudsman decides against them in respect of a complaint which has been submitted; his plans to introduce changes in the area; and if he will make a statement on the matter. [40996/14]

Michael Noonan (Limerick City, Fine Gael)
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Firstly, I must point out that the Financial Services Ombudsman is independent in the carrying out of his duties.

I have no role in the day to day workings of the office or in the decision which he takes.

One of the main roles of the Financial Services Ombudsman is to investigate, mediate and adjudicate complaints about the conduct of regulated financial service providers.

Investigations by the Financial Services Ombudsman are free of charge to the consumer. 

I have been advised by the Office of the Financial Services Ombudsman that at all times the Bureau adheres to the Central Bank and Financial Services Authority of Ireland Act 2004.This legislation provides for right of appeal to the High Court against the Financial Services Ombudsman's findings as following:

"57CL(1) - If dissatisfied with a finding of the Financial Services Ombudsman, the complainant or the regulated financial service provider concerned may appeal to the High Court against the finding.

(2) The Financial Services Ombudsman can be made a party to an appeal under this section.

(3) An appeal under this section must be made

(a) within such period and in such manner as is prescribed by rules of court of the High Court, or

(b) within such further period as that Court may allow."

I have no plans to make changes in this area but, as the Deputy may be aware, my Department is currently progressing the amalgamation of the Offices of both the Financial Services Ombudsman and the Pensions Ombudsman. The right of appeal is a policy matter which will be considered as the legislation to effect the amalgamation is being developed.