Central Bank and Financial Services Authority of Ireland (Amendment) (No. 2) Bill 2013

Public bill · Private Member · Introduced

This measure would let the Financial Services Ombudsman look at complaints about the sale of financial products up to three years after a customer first realises, or reasonably should have realised, that the product was defective. It also clarifies that people cannot bring a complaint if the matter is already before a court or tribunal, falls within the Pensions Ombudsman’s role, or is covered by regulations. It matters because it gives consumers a clearer chance to challenge bad financial products after problems come to light.

Formal long title

Bill entitled an Act to amend the Central Bank and Financial Services Authority of Ireland Act 2004 to enable the Financial Services Ombudsman to investigate complaints in relation to the sale of financial products within three years of the consumer becoming aware for the first time that the product was defective

Last updated 19 February 2020