Does a complaint to the FSPO stop the clock regarding time to take legal action?

Metatron

Registered User
Messages
58
Hi there eyeryone, new to this site so forgive me if this question has already been asked and answered, but I am wondering if you lodge a complaint with the Financial Services and Pension Ombudsman (FSPO) does it have the object or effect of stopping the clock regarding the statutory limits in which you may take a legal action against a financial institution (6 year rule). This is my question?
 

Brendan Burgess

Founder
Messages
39,145
You have a choice - you can go to the Ombudsman or the court, but you can't do both. The Ombudsman is a replacement for the court and not a second bite at the cherry.

If you don't like the Ombudsman's decision, you can go to the High Court, but the High Court will only set the Ombudsman's decision aside in very limited circumstances e.g. a very big error or mistake in procedure. The High Court has recognised that the Ombudsman has the right to exercise his judgement and even if they disagree with it, they would not set it aside.

Brendan
 

Metatron

Registered User
Messages
58
You have a choice - you can go to the Ombudsman or the court, but you can't do both. The Ombudsman is a replacement for the court and not a second bite at the cherry.

If you don't like the Ombudsman's decision, you can go to the High Court, but the High Court will only set the Ombudsman's decision aside in very limited circumstances e.g. a very big error or mistake in procedure. The High Court has recognised that the Ombudsman has the right to exercise his judgement and even if they disagree with it, they would not set it aside.

Brendan
Thanks Brendan,

I was thinking of a situation where your complaint has been with the FSPO for a considerable time (say in excess of 2 years) and the statutory time limit to sue is running out. If you withdraw your complaint from the FSPO or indeed if the FSPO considers the complaint too complicated to adjudicate upon, does the time in which you had your complaint with the FSPO freeze the statutory time limit in which to take legal action?
 

Brendan Burgess

Founder
Messages
39,145
That is a very unusual set of circumstances, but I doubt it.

I think that you can get a waiver of the time limits in some circumstances, and this sounds like a good justification. You took action, but the FSPO put it on hold for two years.

But the key question is why you would prefer the court to the Ombudsman.

Brendan
 

Metatron

Registered User
Messages
58
That is a very unusual set of circumstances, but I doubt it.

I think that you can get a waiver of the time limits in some circumstances, and this sounds like a good justification. You took action, but the FSPO put it on hold for two years.

But the key question is why you would prefer the court to the Ombudsman.

Brendan
Hi Brendan,

Complaint to FSPO may expose tort of deceit or fraudulent misrepresentation by the financial institution which the FSPO cannot adjudicate upon.
 
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