The Jersey Financial Services Commission has welcomed the potential introduction of a financial services ombudsman for personal cases, but has stopped short of backing Deputy Breckon’s attempt to secure funding for a scheme.
JFSC director-general David Carse said that the commission would support it as a tool in the Island’s financial services infrastructure, but he reserved judgment on what he called a political decision.
Deputy Breckon has campaigned for several years for the public to have someone to handle complaints against financial institutions and has today lodged an amendment to the States Business Plan seeking to gain law-drafting time for the enabling law.
He says that the scheme would balance out the power of individual members of the public and large financial services companies, and that the 1998 Edwards Report on financial services regulation had also supported the idea.
