Regulator monitors maturing SSIAs

THE Financial Regulator has been monitoring the SSIA maturity process as part of its consumer protection role.

This has involved looking at patterns of queries from consumers, reviewing documents sent by financial institutions to account holders and a programme of SSIA-focused inspections.

Consumer Director Mary O’Dea said: “We have written to institutions to let them know the issues we have come across and to ask them to continue to monitor their systems and resources during the rest of the maturity process.”