Financial Ombudsman with new possibilities. The draft amendments to the act are already ready
The draft amendment to the Act on handling complaints by financial market entities envisages expanding the definition of a client of a financial market entity. The Ministry of Finance proposed to provide protection to people seeking insurance coverage before concluding a contract and to clients of pawnbroking companies.
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The ombudsman's support will also be available to persons who have or have had a legal relationship with an entity subject to compulsory restructuring pursuant to a decision of the Bank Guarantee Fund.
The changes also expand the list of entities entitled to the ombudsman's assistance. Rural women's groups and volunteer fire brigades will be able to benefit from his support.
Financial Ombudsman with access to public media
The amendment introduces the right for the Financial Ombudsman to publish warnings and messages in public media free of charge. They concern behaviors or phenomena that pose a significant threat to customers and financial market entities.
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“Wide media enable quick access to citizens with warning messages, which will allow for more effective prevention of financial damage,” we read in the Regulatory Impact Assessment (IAR) prepared by the Ministry of Finance.
New charges and wider out-of-court proceedings
The project of Andrzej Domański's ministry provides for entrepreneurs conducting pawnshop activities to be obliged to pay fees for the functioning of the Financial Ombudsman. The minimum amount of such a fee will be PLN 250.
The planned regulations expand the scope of extrajudicial proceedings conducted by the Ombudsman. The Ministry of Finance assumes that this solution will respond to signals from financial market entities that, despite the will to reach an agreement with their clients, are unable to submit an application to the ombudsman. The Ministry expects greater effectiveness of amicable proceedings and lessening the burden on courts by reducing the number of lawsuits filed.
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In 2024, the Financial Ombudsman undertook approx. 12.6 thousand interventions, which means an increase of over 3,000 compared to the previous year. He filed a total of 14 lawsuits, including two in class proceedings.
In the same year, the Financial Ombudsman received over 1.8 thousand customer requests to conduct out-of-court proceedings to resolve a dispute with a financial market entity, which is an increase of 17%. year to year.
Source: Fakt/PAP
