Dáil Éireann Debate, Wednesday - 18 December 2013
65. Deputy Michael McGrath asked the Minister for Finance the average length of time it is taking the Financial Services Ombudsman to deal with new complaints submitted to the body by personal customers of financial services. [54552/13]
View answerFirstly, I must point out that the Financial Services Ombudsman is independent in the performance of his statutory functions. It would not be appropriate for me to comment on how he performs his duties. I have been advised by the Financial Services Ombudsman that in respect of the work undertaken by him during the period 1 January 2013 to 13 December 2013 the average period from the initial submission to commencement of formal investigation was in the order of 3 - 4 months.
On the issue more generally the average period from the commencement of formal investigation to conclusion of formal findings was in the range of 3 - 10 months, depending upon the complexities of the issues which arose. Every complaint to the Financial Services Ombudsman is dealt with on its own individual merits and consequently the timeframe can vary considerably in accordance with the nature of the particular issues which arise. In the course of investigation, the parties to a complaint are asked to adduce all appropriate evidence and are given every opportunity to make all submissions required in relation to the pertinent issues.
