Written answers

Thursday, 17 November 2016

Department of Finance

Financial Services Ombudsman Data

Photo of Niall CollinsNiall Collins (Limerick County, Fianna Fail)
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129. To ask the Minister for Finance the total amount of funding allocated to the Financial Services Ombudsman in 2015 to 2017, inclusive, in tabular form; and if he will make a statement on the matter. [35669/16]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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At the outset, I must point out that the Financial Services Ombudsman is independent in the performance of his statutory functions.

The Central Bank and Financial Services Authority of Ireland Act, 2004 provided for the establishment of the Financial Services Ombudsman Council.  Under Section 57BE, the Financial Services Ombudsman Council may impose levies and fees to enable the Financial Services Ombudsman to perform the functions assigned to him and to exercise the powers conferred on him by statute. Under Section 57 BF, the regulations do not take effect until the Minister has consented to them in writing.

The following table shows funding levied on the financial service industry to be paid to the Financial Services Ombudsman:- 

Year Funding to be paid by industry
2015€3,743,343 (out-turn)
2016€4,231,924
2017Not available * 
*Council Regulations under Section 57BE have not yet been received.

Full details of the income and expenditure of Financial Services Ombudsman are available on his website at . Actual expenditure may exceed funding provided by industry if funds are carried over from the previous year.

Photo of Niall CollinsNiall Collins (Limerick County, Fianna Fail)
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130. To ask the Minister for Finance the number of complaints received by the Financial Services Ombudsman in the 2010 to 2016, inclusive, in tabular form. [35671/16]

Photo of Michael NoonanMichael 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. Information on complaints numbers is available in the Annual Reports of the Financial Services Ombudsman at .

The Financial Services Ombudsman has informed me that the information requested by the Deputy is contained in the following table:

YearNumber of complaints received
20107230
20117287
20128135
20137722*
20144477*
20154872
2016 (to end October 2016)3813
Total43,536 

Note:

*Prior to September 2013 complaints which had not first been submitted to the financial service provider or which were otherwise incomplete were reported as complaints received. For the period from September 2013 to December 2014 incomplete complaints such as these were not included as complaints received. The number of complaints received during the periods concerned are 575 from September to December 2013 and 1,476 in 2014.

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