Clare Daly (Dublin Fingal, Independent)
Link to this: Individually | In context | Oireachtas source

70. To ask the Minister for Finance his plans to resource and equip the Financial Services Ombudsman to the extent that it has the capacity to provide a dedicated advice and assistance service to persons to help them articulate their complaint and is a service which person could also refer to in the course of the complaint for further guidance, in view of the fact that the absence of such a service puts many persons with complaints at a substantial disadvantage. [9880/17]

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

The Financial Services Ombudsman (FSO) legislation provides for an independent, impartial investigation and resolution of disputes between consumers and financial service providers. The FSO was established to provide an alternative to the Courts for consumers who have unresolved disputes with a financial service provider.  Subject only to an appeal to the High Court, a Finding of the FSO in respect of a complaint is legally binding on all parties. 

The Financial Services Ombudsman's Bureau (FSOB) provides a dedicated information service, which handles both phone and e-mail enquiries.  This service provides assistance on how to access the FSOB's services and to initiate a complaint.  The FSO website also acts as an important point of information for service users. 

In order to simplify the complaints process and to make it easier for a consumer to articulate their complaint and to have their complaints resolved through informal means, the FSO adopted a new model of Dispute Resolution in February 2016. This new model involves considerably more interaction with the parties. The emphasis is on utilising mediation to resolve complaints. This is a faster and simpler method for resolving disputes and complaints.   I understand that the FSO dispute resolution team also provides information and assistance as required to ensure the consumer is well-informed and best-equipped to engage with the services being offered. 

If these early interventions do not resolve the complaint, parties have the option of having it independently investigated and adjudicated by the FSO and a legally binding finding issued. This, of necessity, is a more formal and lengthier process. During this process, the Investigation Service usually writes to the Financial Service Provider (FSP) setting out a series of lengthy, detailed and probing questions which are based on the specific issues which the consumer has raised, but goes beyond this by also asking a series of questions about the FSP's conduct in relation to the FSO legislation and to their obligations under consumer protection legislation.  This assists the articulation of the complaint on behalf of the consumer.

Because the FSO issues findings that are legally binding on the parties, it would be incompatible with fair procedures for the FSO to also provide dedicated advice and assistance to a party to a complaint. However, I understand that the consumer can avail of guidance from the office in relation to the processes at any point in their interaction with the FSO.