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Fais Ombud’s conduct raises concerns

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A quantity of recent decisions from the the FAIS Ombud have called into question whether your body has either the drive or even the capability to fulfil its duties. In six separate cases, the ombud has cited its limited resources as being a cause for within investigate.

The ombud dismissed these issues on the grounds so it feels the matters might be more appropriately handled by the courts because its own “limited resources wouldn’t cope” when using the investigations, or who’s doesn’t need “adequate facilities” of its own for making proper determinations.

While the FAIS Act does encourage the ombud to produce a really decision on ‘reasonable grounds’, it won’t stipulate what these grounds could be. The ombud itself has additionally proved not wanting to explain the basis where it can make such a decision.

The Eccles case

Most of them matters depend on complaints laid from the local office of international consultancy deVere. By far the most telling of those was first filed using the ombud in September 2014 by John Eccles, a deVere client who invested?

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