Mairéad Farrell
Question:267. Deputy Mairéad Farrell asked the Minister for Finance the reason the Financial Services and Pensions Ombudsman spent a total of €1.8 million on legal fees in 2020. [9777/22]
View answerTuesday, 22 February 2022
Questions (267)
Written answers
As the Deputy is aware, the Financial Services and Pensions Ombudsman (FSPO) is independent in the performance of her statutory functions and I have no role in the day to day workings of the office or in the decisions which she takes.
As the FSPO is a statutory complaints handling body its functions require the ongoing provision of legal services. The FSPO has informed me that the figure of €1.8 million incurred by the FSPO on legal fees, as detailed in its Annual Financial Statements 2020, includes expenditure relating to the management of a number of Judicial Review applications to the High Court and statutory appeals by parties following the issuing of a Legally Binding Decision of the FSPO.
It also includes the ongoing provision of the FSPO’s tracker mortgage team comprising a team of solicitors, trainee solicitors, paralegals and legal executives who are working full time within the FSPO, providing legal advice and investigation support services for complaints received from consumers regarding tracker mortgages, which are not resolved by mediation and require a full investigation leading to the issue of a legally binding decision. The expenditure also includes corporate legal fees.
All expenditure by the FSPO is provided for through its annual budget process, as outlined in the Financial Services and Pensions Ombudsman Act 2017.