Key Post The Financial Services Ombudsman legislation

Brendan Burgess

You can find the full text of the Act here

Or in PDF here:

The bit I most often quote (and have difficulty finding) is

Section 12.(11)

(11) Subject to this Act, the Ombudsman, when dealing with a particular complaint, shall act in an informal manner and according to equity, good conscience and the substantial merits of the complaint without undue regard to technicality or legal form.

Other links
SI 154 of 2018 - Financial Services and Pensions Ombudsman(Compensation)Regulation 2018

Wavier of the internal dispute resolution process

Codes of Conduct relevant to regulated Financial Service Providers

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Brendan Burgess

Time limits are in Section 51

This is the key bit but read the entire section to fully understand it.

(2) A complaint in relation to—
shall be made to the Ombudsman within whichever of the following periods is the last to expire:
(i) 6 years from the date of the conduct giving rise to the complaint;
(ii) 3 years from the earlier of the date on which the person making the complaint became aware, or ought reasonably to have become aware, of the conduct giving rise to the complaint;
(iii) such longer period as the Ombudsman may allow where it appears to him or her that there are reasonable grounds for requiring a longer period and that it would be just and equitable, in all the circumstances, to so extend the period.