Decisions

Overview of Decisions
In terms of Section 75 of the Financial Services Regulatory Authority Act 2010, where a matter has not been settled between a Financial Services Provider and a Complainant the Ombudsman of Financial Services will make a final decision as follows:

Determination of Complaints
75. (1) A complaint before the Ombudsman shall be determined by reference to what is, in the opinion of the Ombudsman, fair and reasonable in all the circumstances of each case.

(2) When the Ombudsman has determined a compliant, the Ombudsman shall give a written statement of the decision of the Ombudsman to the respondent and to the complainant, which shall:-
(a) Give the reasons of the Ombudsman for the decision;
(b) Be signed by the Ombudsman; and
(c) Require the complainant to notify the Ombudsman in writing, before a date specified in the statement, whether the complainant accepts or rejects the decision.

(3) If the complainant notifies the Ombudsman that the complainant accepts the decision, it shall be binding on the respondent and the complainant and shall be final.

(4) If, by the specified date, the complainant has not notified the Ombudsman of the acceptance or rejection of the decision, the complainant shall be treated as having rejected it; and the Ombudsman shall notify the respondent of the outcome.

(5) A copy of the decision on which appears a certificate signed by an Ombudsman shall be evidence that the decision was made, unless the contrary is shown.