Ombudsman Council re-elected

The Minister for Finance has re-appointed the chairperson and members of the Financial Services Ombudsman Council for a further period of two years.

The role of the council includes determining levies and charges payable for the performance of the Financial Services Ombudsman bureau, appointing the Financial Services Ombudsman, and keeping under review the efficiency and effectiveness of the Bureau.

The council also has a role under the new “naming and shaming” regulations, which will allow the Financial Services Ombudsman to publically disclose financial institutions which have had at least hree complaints against them substantiated or partially substantiated.

Dermott Jewell, chief executive of the Consumer Association of Ireland, will remain as chairman.The other members of the council are: Paddy Leydon, Bank of Ireland; Frank Wynn, Irish Life; Caitíona Ní Charra, MABS; Michael Connolly, consultant; and Tony Kerr, senior lecturer, College of Business and Law, UCD. Solicitor Elizabeth Walsh will also join the council.

While the council has been appointed for a period of two years, the term may be shorter depending on when the merger of the Financial Services Ombudsman with the Pensions Ombudsman is completed.