Financial Services and Pensions Ombudsman (Amendment) Bill 2023

Public bill · Government · Presented

The changes would update how the Financial Services and Pensions Ombudsman handles complaints, especially after a court ruling that raised concerns about public hearings and private dispute resolution. Mediation would have to stay private, the Ombudsman would decide whether oral hearings should be public, and the rules on taking oaths, appointing acting or extra Ombudsmen, funding, and complaint procedures would be clarified. It also lets the Ombudsman keep investigating a firm about conduct that happened while it was still regulated, even if it has since stopped being regulated.

Formal long title

Bill entitled an Act to amend the Financial Services and Pensions Ombudsman Act 2017; to make provision regarding the calculation of expenses incurred by the Ombudsman in the performance of his or her functions; to provide for the appointment of additional persons to act as Ombudsman; to make further provision for the conduct of investigations; to provide for certain other consequential amendments; and to provide for related matters.

Last updated 24 April 2025