Robert Troy
Ceist:92. Deputy Robert Troy asked the Minister for Finance if financial institutions are legally obliged to comply with the Office of the Financial Ombudsman when a request is made of them. [47209/17]
Amharc ar fhreagraWednesday, 8 November 2017
Ceisteanna (92)
Freagraí scríofa
Firstly, 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 or in the decisions which he takes.
One of the main roles of the Financial Services Ombudsman (FSO) is to investigate, mediate and adjudicate complaints about the conduct of regulated financial service providers. Investigations by the Financial Services Ombudsman are free of charge to the consumer.
I have been advised by the Financial Services Ombudsman that he can require a regulated financial service provider to provide information either orally or in writing, or to produce any document or other record, or to provide a copy of any document.
The Ombudsman can also summon any officer, member, agent or employee of a financial service provider to attend before him, and he can examine on oath any such officer, member, agent or employee in relation to any matter that appears to the Ombudsman to be relevant to an investigation or adjudication.
The FSO may apply to the Circuit Court for a compliance order against a person if it appears to the Ombudsman that the person has failed to comply with such a request.
Furthermore, a person who obstructs the Ombudsman in the exercise of his functions or without reasonable excuse, fails to comply with a requirement or request made by the Ombudsman or gives information that the person knows to be false or misleading, or refuses to comply with a summons to attend before, or to be examined on oath by, the Ombudsman, commits an offence and is liable on summary conviction to a fine not exceeding €2,000 or to imprisonment for a term not exceeding three months or both.