The Ombudsman cometh — Financial Services Ombudsman in Jersey
The appointment of a Financial Services Ombudsman in Jersey came a step closer on 1 April 2014 when the States of Jersey approved the Financial Services Ombudsman (Jersey) Law 201. The law, once approved by the UK Privy Council, will establish an ombudsman to adjudicate complaints from customers in relation to financial services provided in Jersey. The ombudsman will be able to make awards to return complainants to the position they would have been in had the problem not occurred.
Certain categories of persons will be eligible to complain to the ombudsman including individuals, small businesses, charities, trusts and foundations. The intention is that the service should be primarily available to persons lacking the resources or expertise to use other means to resolve complaints. The service will be available to complainants resident anywhere, not just to Jersey residents…
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Briefings from Ogier
Decision of general relevance to restructuring and insolvency practitioners.
A Q&A, now that Jersey’s first Financial Services Ombudsman has started work.