Dáil Éireann Debate, Thursday - 17 April 2014
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Financial Irregularities
57. Deputy Michael McGrath asked the Minister for Finance the number of complaints against financial institutions in each of the past five years in respect of the sale of unsuitable investments; the number that were upheld; the compensation awarded; and if he will make a statement on the matter. [18261/14]
Amharc ar fhreagraFirstly, I must point out that the Financial Services Ombudsman is independent in the carrying out of his duties. I have no role in the day to day workings of the office. However, the Financial Services Ombudsman has informed me that the information requested by the Deputy is as follows:
|
Year |
Total Number of Investment Complaints |
Mis-selling of Investments |
Mis-selling Findings Upheld |
Compensation Awarded |
|
2009 |
1309 |
330 |
9 |
€43,000 |
|
2010 |
1119 |
323 |
46 |
€374,286 |
|
2011 |
1024 |
463 |
17 |
€385,109 |
|
2012 |
840 |
422 |
14 |
€188,400 |
|
2013 |
770 |
437 |
7 |
€264,004 |
