Ombudsman gets 1,375 complaints in first year
THE Channel Islands Financial Ombudsman Service has received 1,375 complaints during its first full year in operation, of which 1,133 have been closed. Of those complaints, 231 were found to merit further investigation by the Ombudsman.
The service has its office in Jersey but also covers Guernsey, Sark and Alderney.
Figures for the final quarter of the year, issued last week, show that 223 complaints were opened during October to December, with 90 of those new complaints under further investigation. Over three-quarters of the new case files relate to financial advice on investments and funds.
Principal Ombudsman Douglas Melville said: 'The last three months of 2016 were a busy period, particularly for new complaints about investments and issues of mis-selling.'
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