Ombud Schemes

Ombud Schemes

 

According to the Financial Sector Regulation Act, to achieve its objective, the Ombud Council must:
  1. Recognise industry ombud schemes;
  2. Promote co-operation between, and co-ordination of, the activities of ombuds schemes;
  3. Strive to protect the independence and impartiality of ombuds schemes;
  4. Promote public awareness of ombuds and ombud schemes and the services they provide;
  5. Take steps to facilitate access by financial customers to appropriate ombuds schemes;
  6. Publicise ombud schemes, including publicising the kinds of complaints that different ombud schemes deal with;
  7. Resolve overlaps of the jurisdictional coverage of different ombud schemes;
  8. Monitor the performance of ombud schemes, including the extent to which they comply with the requirements of the Chapter and specific financial sector laws.
The Ombud Council exercises oversight over the following schemes:
Credit Ombud
Ombudsman for Short Term Insurance
Ombudsman for Long Term Insurance
Ombudsman for Banking Services
Johannesburg Stock Exchange Ombud
Pension Funds Adjudicator
Ombud for Financial Services Providers

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