Written answers

Wednesday, 10 June 2015

Department of Finance

Financial Irregularities

Photo of Bernard DurkanBernard Durkan (Kildare North, Fine Gael)
Link to this: Individually | In context | Oireachtas source

60. To ask the Minister for Finance if the case of persons (details supplied) in County Meath, who may have been mis-sold financial products in recent years, can be re-examined; and if he will make a statement on the matter. [22557/15]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

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 or to intervene in an individual's complaint.

The Financial Services Ombudsman Bureau was established under the Central Bank and Financial Services Authority of Ireland Act 2004. This legislation provides the Financial Services Ombudsman with various powers in order to determine jurisdiction on a complaint. Included in this is a statutory timeframe.

Section 57BX (3)(b) provides: "A consumer is not entitled to make a complaint if the conduct complained of occurred more than 6 years before the complaint is made."  Therefore, the legislation prohibits the Financial Services Ombudsman from examining any aspect of a complaint where the conduct being complained of occurred more than 6 years prior to the receipt of the complaint in his Office.

Comments

No comments

Log in or join to post a public comment.