Economic Development Minister Philip Ozouf wants to set up a financial services ombudsman scheme funded by the finance industry and says it could be provided by expanding the court mediation scheme that was set up in 2002.
Senator Ozouf said the scheme should deal with Islanders complaints about domestic financial products like complaints over bank charges, bad advice on endowments and problems with mortgages and pensions.
‘In the UK and most European countries ombudsman schemes are paid for by banks and financial service providers.
I support the setting up of an ombudsman scheme and it must be the industry who pay for it,’ said the Senator.
