OFT looks to alter Financial Services Ombudsman Scheme

 

The scheme is a free, independent, dispute resolution service for customers with complaints against a financial service provider operating in, or from, the Isle of Man.

 

The OFT has identified two areas - self invested pension schemes and insurance intermediaries - where it believes customers may be at risk.  

 

Under the Financial Services Act the OFT is proposing to use its powers to extend the scope before making a decision on whether or not to put amendments to legislation.