Has anyone succeeded in getting the Ombudsman to extend the time period for considering a complaint?

[Brendan Burgess]

A complaint must be made within 6 years of the conduct complained of.

However, in the case of a long-term financial service, a complaint can be made within three years of the client becoming aware of the conduct.

51. 2. (ii) 3 years from the earlier of the date on which the person making the complaint became aware, or ought reasonably to have become aware, of the conduct giving rise to the complaint;

However, Section 2(1) of the FSPO Act 2017 provides that a:

“long-term financial service” means—

(a) a financial service the duration of which is a fixed term of 5 years and one month, or more, ....

I was not aware of this. So if a broker sells an open ended investment product which has no fixed term, then the 3 year rule does not apply.
It applies to mortgages because they are always for a fixed term.

But the Ombudsman can extend the 6 year time period as follows

(2) A complaint in relation to—

(a) conduct referred to in section 44(1)(a) that, subject to the requirements specified in subsection (3), relates to a long-term financial service, or

…

shall be made to the Ombudsman within whichever of the following periods is the last to expire:

…

(iii) such longer period as the Ombudsman may allow where it appears to him or her that there are reasonable grounds for requiring a longer period and that it would be just and equitable, in all the circumstances, to so extend the period.

Has anyone managed to convince the Ombudsman to extend the time period? I wonder what would constitute "reasonable grounds"?

 

[Brendan Burgess]

I have done a bit more research into this.

The Ombudsman can exercise their discretion to extend the time limits.

There is an interesting High Court decision on the topic here.

https://www.fspo.ie/legal-references/Court-Judgments/documents/2022_IEHC_678%20Baynes.pdf

The Ombudsman rejected the request to exercise their discretion to extend the time period but the High Court held that they should not have dismissed it out of hand, but should have given reasons for rejecting it.

It would be great to see some examples of where the Ombudsman did extend the term.