Ombudsman complaints - Public are protected by watchdog

THE big rise in complaints against companies providing financial services for the public is a cause of considerable concern, especially as it comes amid rumblings that firms are threatening to challenge the constitutionality of the statutory powers vested in the Ombudsman.

By any standard, the report issued yesterday by Financial Services Ombudsman Joe Meade is a breath of fresh air and welcome proof that the office is armed with sharp teeth.

With millions of euro flowing into people’s pockets from SSIA savings schemes, the findings are a timely warning of the need for caution by anyone pondering what to do with his or her nest egg.