'Name and shame' power due after delay

Legislation allowing the Financial Services Ombudsman (FSO) to name and shame financial firms that break the rules is now likely to be commenced in September.

10th August, 2013

Legislation allowing the Financial Services Ombudsman (FSO) to name and shame financial firms that break the rules is now likely to be commenced in September, after a delay forced the FSO to wait for its new powers.

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...

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