Brendan,
I assume the Ombudsman talks to the Financial Regulator who in turn imposes suitable reprimands on the intermediary?
I've heard many in the media asking for naming and shaming and I haven’t heard Mr Meade outline reasons he won't (perhaps the interview was too short). I’d imagine naming and shaming could probably be embasassing, time consuming and costly for Mr Meade’s office should the named party feel they had legal rights to bring a claim for defamation so the only solution is strike them off as I feel far too many feel comfortable with their PI.
The Ombudsman’s figures on payouts are commendable and it appears are increasing. Is this increase because more people are aware of the complaints procedure or is it increasing due to some failure in regulatory and compliance issues?
I’m with you 100% Brendan - malicious or fraudulent complaints should be referred to the appropriate authorities for prosecution.
Sumatra