S.I. No. 154/2018 - Financial Services and Pensions Ombudsman (Compensation) Regulations 2018

1. These Regulations may be cited as the Financial Services and Pensions Ombudsman (Compensation) Regulations 2018.

2. The maximum amount of compensation that the Ombudsman may award to a complainant under

section 60

of the

Financial Services and Pensions Ombudsman Act 2017

(No. 22 of 2017) shall be as follows

(

a

)€52,000 per annum, where the subject of a complaint is an annuity, or

(

b

)€500,000 in respect of all other complaints.

GIVEN under my Official Seal,

8 May 2018.

PASCHAL DONOHOE,

Minister for Finance.

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of

15

th May

, 2018.

I, PASCHAL DONOHOE, Minister for Finance, in exercise of the powers conferred on me by

section 4

of the

Financial Services and Pensions Ombudsman Act 2017

(No. 22 of 2017), having consulted with the Financial Services and Pensions Ombudsman Council and the Financial Services and Pensions Ombudsman, hereby make the following regulations