208. Deputy Cian O'Callaghan asked the Tánaiste and Minister for Finance the protections available to investors affected by the insolvency of a company (details supplied); the status of outstanding complaints submitted to the Financial Services and Pensions Ombudsman concerning advice provided by a company; whether pre liquidation advice and professional indemnity insurance remain available as avenues of redress; how the transfer of (details supplied) regulated client servicing business is supervised by the Central Bank; and which authority is responsible for ensuring that former clients receive adequate support during the liquidation process. [74967/26]

The Central Bank of Ireland is the independent statutory body responsible for the regulation and supervision of regulated financial service providers. Questions concerning compliance with regulatory requirements by such firms fall within its remit. The Central Bank does not generally adjudicate on individual disputes or determine compensation claims between consumers and financial service providers. Further information on investment risks and investor protections is available through the Central Bank’s Consumer Hub, including its guidance on investing.

The extent of any regulatory protections available to an investor will depend on the nature of the investment concerned, the services provided by the intermediary, and whether the relevant activities were regulated activities under applicable legislation.

In certain limited circumstances, protection may also be available through the Investor Compensation Company DAC (ICCL), which operates the statutory investor compensation scheme for eligible clients of authorised investment firms. Eligibility for compensation depends on the specific facts of a case and the statutory criteria governing the scheme.

It is important to note that the investor compensation scheme does not protect against losses arising from poor investment performance or market movements. It applies only in specific circumstances where an authorised investment firm fails or is unable to meet its obligations to investors.

Consumers may have recourse to the Financial Services and Pensions Ombudsman (FSPO) in relation to financial services provided to them by regulated firms. If a consumer wishes to pursue a complaint in relation to a regulated financial service provider, they must firstly make a complaint to the provider. If the complaint is not resolved, they can then make a complaint to the FSPO.

With regard to this specific case, the FSPO has advised that they cannot comment on individual complaints or confirm receipt of complaints in relation to any individual financial service provider, pension provider or complainants.

In relation to questions concerning the affairs of a company going through liquidation, including any potential professional indemnity insurance arrangements, responsibly for the administration of the company’s affairs rests with the appointed liquidator. Queries regarding such matters may therefore need to be directed through the liquidation process. The FSPO may also be able to advise on the effect, if any, that the liquidation of this company may have on any available avenues of redress.

Where there is a proposed transfer of the regulated client-servicing business to another firm arrangements are generally intended to facilitate continuity of service and communication for clients and are subject to applicable legal and regulatory requirements. Questions regarding the implications for individual clients would be a matter for the liquidator involved and, where relevant, the Central Bank of Ireland.