'Name and shame' legislation delayed

The Financial Services Ombudsman's office will have to wait for new powers to 'name and shame' misbehaving financial firms, following a delay in implementing a key piece of legislation.

3rd August, 2013
Bill Prasifka.

The Financial Services Ombudsman's office will have to wait for new powers to 'name and shame' misbehaving financial firms, following a delay in implementing a key piece of legislation.

The Central Bank (Supervision and Enforcement) Act, which was enacted last month, gives the FSO the power to name financial services providers that are the subject of multiple complaints, subject to strict rules.

The Minister for Finance, Michael Noonan, last week signed an order commencing the...

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