The Financial Services and Pensions Ombudsman (FSPO) is independent in the performance of its statutory functions and, as Minister for Finance, I have no role in its investigation or decision making processes.
I am advised by the FSPO that, where a complaint is made to the FSPO concerning a joint account or a joint policy, the FSPO must recognise that all parties who own that account or policy have rights, entitlements and potential liabilities arising in relation to such an account or policy.
Whether the complaint is settled by way of agreement between the parties, using the confidential Dispute Resolution Service, or is the subject of a formal FSPO investigation, leading to a legally binding decision, the rights and obligations of all joint account holders or joint policyholders are affected.
Therefore, all owners of the account or policy must agree to the investigation of the complaint by the FSPO, and the processing of their personal data by the FSPO.
The signature of each joint owner of the policy or account is required, as evidence of their consent.
The FSPO fully recognises the difficulty for complainants who are unable to obtain the agreement of another party to the investigation of a complaint.
Where a complainant indicates a difficulty in securing the signature of another party to an account or policy, the FSPO reviews the individual circumstances to form an understanding as to the reason for the difficulty, and where possible, offers guidance as appropriate, as to what options may be available. The FSPO must however respect the rights and entitlements of all parties to an account or policy.
The Financial Services and Pensions Ombudsman (Amendment) Act 2025 did not include any measures relating to the investigation of complaints where the consent of all parties is not received.
