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Help for financial complaints

by isleofman.com 21st May 2012

If you have a complaint against a bank, insurance firm or other financial institution in the Isle of Man, help is on offer to resolve the case.

The Island's Financial Services Ombudsman Scheme is marking its 10th anniversary and in the past decade has dealt with 3,000 cases.

When someone has suffered financial loss through no fault of their own, the ombudsman can order sums up to ?150,000 to be paid back.

The service is based at the Office of Fair Trading which acts on behalf of consumers.

The majority of cases are resolved through mediation, but when that fails an adjudicator will judge the case.

The OFT's Pauline Wood says many complaints are about the selling of unsuitable financial products.





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Posted by isleofman.com
Monday 21st, May 2012 05:46pm.

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