S.I. No. 97/2014 - Central Bank Act 1942 (Financial Services Ombudsman Council) Complaint Information Regulations 2014.
Notice of the making of this Statutory Instrument was published in
“Iris Oifigiúil” of 28th February, 2014.
The Financial Services Ombudsman Council, in exercise of the powers conferred on the Council by Section 57BF of the Central Bank Act 1942 (as inserted by the Central Bank and Financial Services Authority of Ireland Act 2004 and the Central Bank (Supervision and Enforcement) Act, 2013) and with the consent of the Minister for Finance, hereby makes the following regulations.
1. These Regulations may be cited as the Central Bank Act 1942 (Financial Services Ombudsman Council) Complaint Information Regulations 2014.
2. In these regulations ‘Act’ means the Central Bank Act 1942 .
3.1 The information specified in Section 57BS(6) of the Act may be given in a report published under Section 57BS(1) of the Act in respect of every regulated financial service provider falling within Section 57BS(5) of the Act in a table that has the following form:
Name of Regulated Provider (to include any trading name if different)
Member of Business Group (where applicable)
Number of complaints Substantiated
Number of complaints Partly Substantiated
3.2 The table shall list, in descending order of complaints substantiated for each of the categories set out in regulation 3.3 regulated financial service providers who have had at least three complaints against them found to be substantiated or partly substantiated.
3.3 The table may be divided into some or all of the categories set out below and each regulated financial service provider included in the table shall be included in the category deemed by the Financial Services Ombudsman to be most appropriate to that regulated financial services provider.
3.4 The Banking category may be divided into some or all of the following sub-categories
(c) Credit Cards
(f) Foreign Exchange
3.5 The Investment category may be divided into some or all of the following sub-categories
(a) Endowment Policies
3.6 The Insurance category may be divided into some or all of the following sub-categories
(b) Critical/Serious Illness
(c) Household Buildings
(d) Income Protection
(f) Medical Expenses
(g) Mortgage Protection
(h) Payment Protection
3.7 The information contained in the table may be incorporated into the Financial Services Ombudsman’s Bi-Annual Review and Annual Report and be made available on the Financial Service Ombudsman’s website.
Given under the seal of the Financial Services Ombudsman Council
25 February 2014.
Financial Services Ombudsman Council
(This note is not part of these Regulations and does not purport to be a legal interpretation)
The purpose of these Regulations is to make provision for the form and manner in which information may be published concerning financial service providers who have at least three complaints against them found to be substantiated or partly substantiated and allows for sector-specific information to be included.