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The Ombud Council is a statutory body established in terms of the Financial Sector Regulation Act, 2017 (FSR Act). In terms of the Act, the Ombud Council’s objective is “to assist in ensuring that financial customers have access to, and are able to use, affordable, effective, independent and fair alternative dispute resolution processes for complaints about financial institutions in relation to financial products, financial services, and services provided by market infrastructures” (section 176 of the FSR Act).

The FSR Act sets out the Council’s functions and confers a range of supervision and enforcement powers over ombud schemes. In effect, our role is to act as the “regulator” of ombud schemes.

The Ombud Council’s enforcement powers enable us to take various regulatory actions – including conducting investigations – against ombud schemes where a scheme contravenes or is likely to contravene a financial sector law, insofar as that law relates to ombud schemes. Certain actions may also be taken where an ombud scheme has contravened its own governing rules in a material way. The governing rules of industry ombud schemes are available here.

The Ombud Council can therefore only deal with a complaint against an ombud scheme that indicatesthat this type of contravention has occurred or is likely to occur.  If you have this type of complaint against an ombud scheme, please submit it through our website here, or send an e-mail to enquiries@ombudcouncil.org.za.

The Ombud Council’s enforcement powers enable us to take various regulatory actions – including conducting investigations – against ombud schemes where a scheme contravenes or is likely to contravene a financial sector law, insofar as that law relates to ombud schemes. Certain actions may also be taken where an ombud scheme has contravened its own governing rules in a material way. The governing rules of industry ombud schemes are available here.

The Ombud Council can therefore only deal with a complaint against an ombud scheme that indicatesthat this type of contravention has occurred or is likely to occur.  If you have this type of complaint against an ombud scheme, please submit it through our website here, or send an e-mail to enquiries@ombudcouncil.org.za.

The Ombud Council does not have any jurisdiction over the conduct of financial institutions. We therefore cannot deal with complaints against financial institutions, and these complaints should be submitted to the applicable ombud scheme. Details of applicable ombud schemes are set out here.

It is also not our role to become involved in, or review or reconsider the outcome of any specific complaints handled by ombud schemes. This would be inconsistent with our mandate to protect the independence and impartiality of ombuds (section 177(1)(c) of the FSR Act.)