Ombudsman Definition

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What does Ombudsman mean?

The Ombudsman ensures the good administration and transparency of EU institutions. The main objective of the ombudsman is to support the EU institutions in becoming more effective, transparent and accountable and is completely independent and impartial in the performance of its duties. The Ombudsman can open an investigation on its own initiative or following a complaint, if an institution or body of the EU fails to respect fundamental rights, legal rules or principles, or the principles of good administration. For more information on the Ombudsman, see the European Ombudsman website.

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Checklist for compromises of FCA-regulated entities: information requirements

Checklist for compromises of FCA-regulated entities: information requirements The Financial Conduct Authority (FCA) is the conduct regulator for financial services firms and financial markets in the United Kingdom. It has a duty under section 1B of the Financial Services and Markets Act 2000 (FSMA 2000) to pursue certain objectives, one of which is the consumer protection objective. The FCA lists its statutory objectives as to secure an appropriate degree of protection for consumers and to protect and enhance the integrity of UK financial markets, with a view to reducing the number of proposed compromises that they do not consider to be appropriate (see FG22/4, para 1.2). On 5 July 2022, the FCA published guidance on compromises of regulated firms (see FCA Guidance FG22/4 July 2022 and updated in January 2024) following their significant concerns about these tools being proposed and used by firms to avoid paying customers redress (see: LNB News 05/07/2022 72). Practitioners will need to take note of the guidance where the proposed compromise involves regulated companies, meaning...

FCA consultation paper tracker—2017 [Archived]

FCA consultation paper tracker—2017 [Archived] This tracker sets out the consultation papers published by Financial Conduct Authority (FCA) in 2017, along with the publication of any subsequent rules and guidance. For details of FCA consultation papers from other years, see: FCA consultation paper tracker. For details of Prudential Regulation authority (PRA) and Financial Services Authority (FSA) consultation papers, see: • PRA consultation paper tracker • FSA consultation paper tracker [Archived] Topic area Consultation Paper Description Publication date End of consultation period Policy Statement/ Handbook Notice Payment systems and services CP17/44: PSR regulatory fees The Payment Systems Regulator (PSR) and the FCA published a consultation and decision paper setting out their policy decision on the way they will collect PSR regulatory fees in 2018/19 and in subsequent years, and consulting further on the proposed fees allocation method. 15 December 2017 26 January 2018 Handbook Notice 53 (23 March 2018)CP18/8 (23 March 2018) Consumer credit, mortgage and home finance CP17/43: Credit card market study: Persistent debt...

Complaints—SRA 2011 regime and SRA 2019 regime compared [Archived]

Complaints—SRA 2011 regime and SRA 2019 regime compared [Archived] ARCHIVED: This archived Practice Note contrasts the requirements in the Solicitors Regulation Authority’s (SRA’s) 2011 and 2019 regimes as well as wider requirements in relation to complaints. There is a separate Practice Note providing more detailed guidance on the SRA’s 2019 complaints requirements—see Practice Note: Complaints—law firms. Regulatory requirements in relation to complaints are contained in various places, including the 2019 Codes, the SRA Financial Services (Conduct of Business) Rules, the SRA Transparency Rules and the SRA Indemnity Rules. Applicable requirements also stem from the Legal Services Board (LSB). These are summarised in the Legal Ombudsman (LeO) Scheme Rules. SRA requirements in the 2019 Codes in relation to complaints specifically apply only when you are providing services to the public or a section of the public. The requirements in the 2019 Codes represent the bare bones of those in the 2011 Code. You will see in the tables below, however, that the pared-down requirements in the 2019 Codes...

Client conflicts in criminal matters—when can you act?

Client conflicts in criminal matters—when can you act? There are two types of conflict: own interest conflicts and client conflicts of interest. This Practice Note explains when you can act if there is or may be a conflict of interests between two or more clients in a criminal matter. For the wider regulatory requirements on conflicts of interests, see Practice Notes: Conflicts of interest—law firms and solicitors and Conflicts of interest—systems and controls. What is a client conflict of interest? A client conflict of interest arises where your separate duties to act in the best interests of two or more clients conflict in relation to the same matter or a related matter. The SRA simply calls this type of conflict a ‘conflict of interest’. You must not act in relation to a matter or particular aspect of it if you have a client conflict of interest or a significant risk of such a conflict in relation to that matter or aspect of it, unless you fall...

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Step-in rights and SRA compliance clauses: law firm outsourcing agreement

1 Definitions for Step-in rights and SRA compliance clauses: law firm outsourcing agreement Applicable Laws means: (a) the laws of England and Wales [and [insert other specific applicable laws, eg of other jurisdictions where the Services will be performed]]; (b) any other laws or regulations; (c) any industry codes, policies or guidelines issued by a Regulator as notified to Supplier by Customer from time to time in each case, as these are applicable to the performance of the Services; Confidential Information ...

Publicity policy—law firms

Publicity policy—law firms 1 Introduction 1.1 Publicity in relation to our firm or any other business must be accurate and not misleading or likely to diminish the trust the public places in solicitors and the legal profession. All publicity material issued by or on behalf of [insert firm’s name] must comply with the SRA Standards and Regulations, the data protection and electronic marketing regime and other legal and regulatory obligations. 1.2 This publicity policy sets out requirements relating to publicity and information on how we will comply with those requirements. It applies to all individuals working at all levels, including partners, consultants, solicitors, other employees (whether permanent, fixed-term or temporary), contractors, trainees, seconded staff, home-workers, casual staff, agency staff, interns and students, agents, sponsors, volunteers or any other person associated with the firm wherever located (collectively referred to as ‘staff’ in this policy). 2 What is publicity? 2.1 Publicity includes, but is not limited to: 2.1.1 all promotional material and activity, including the name or description of...

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Funds are received from a bank in an estate. There is a gift in the Will of monies in a specific account at that bank, but the bank are not able to provide information regarding whether the funds came from the specific account or another account, since they have deleted their records. Is there any process that can be undertaken to clarify whether or not the gift is payable or will fail?

Funds are received from a bank in an estate. There is a gift in the Will of monies in a specific account at that bank, but the bank are not able to provide information regarding whether the funds came from the specific account or another account, since they have deleted their records. Is there any process that can be undertaken to clarify whether or not the gift is payable or will fail? We have assumed that: • the administration of the estate is governed by the law of England and Wales • the bank accounts in question all have a situs in England and Wales • the lack of information as to the source account of the funds should not, per se, be sufficient reason to cause the gift to fail Consider the following points: • if the gift is a specific gift, it would fail if the account were no longer in existence at the time of the testator’s death • if the gift is a demonstrative...

What happens if a lender incorrectly charges interest on a credit agreement?

What happens if a lender incorrectly charges interest on a credit agreement? BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. Following IP completion day, key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see: Brexit and financial services: materials on the post-Brexit UK/EU regulatory regime. How should interest be charged on a credit agreement? The term of the credit agreement will specify the interest rate payable (if any) on the credit provided under the terms of the agreement. As well as setting out the rate of interest, which must be charged on a per annum basis, the credit agreement will also set out how interest is calculated and added to the account. For example, for certain fixed-sum loans the amount of interest will be calculated at the beginning of...

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Pensions Ombudsman orders former director of trustee company to pay £9.7m to two pension schemes (Dalriada Trustees (PO-16266))

Pensions analysis: The Pensions Ombudsman (PO) has upheld a complaint brought by Dalriada Trustees Ltd (Dalriada) and others of multiple instances of breach of trust and maladministration against Ecroignard Trustees Ltd (Ecroignard) and a Mr Shroff, a former director of that company. Ecroignard has been wound up—although its ultimate dissolution has been suspended until 2028. Written by Paul Carney, a partner at Shoosmiths LLP.

Local Government weekly highlights—19 December 2024

The final edition of this year’s Local Government weekly highlights includes news of and expert analyses of the revised National Planning Policy Framework and the English Devolution White Paper. It also includes case analyses on the decisions in Moh v Rimal Properties Ltd and Kelly v Bostall Estates Ltd on how to calculate of time periods in rent repayment orders and RWU v A Governing Body of An Academy on a decision not to reinstate an excluded pupil. Case reports include the Court of Appeal decision in Hackney LBC v Weintraub on the ‘tenant condition’; Kaur v Birmingham City University on a the decision to withdraw immigration sponsorship; Calderdale MBC v Cheshire East BC on LA designation for care proceedings; Leicestershire CC v Amy on a LA’s failure to assess and support deaf parents' ability to care for children by making reasonable adjustments; care homes’ claim against a council concerning unpaid costs of care for residents in The Julie Richardson Ltd v Oxfordshire CC and finally, Hawes v Tower Hamlets...

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