Posted: 21/08/2015Jersey’s States Assembly and Guernsey’s States of Deliberation are to consider legislation that sets 16 November 2015 as the date that the Channel Islands Financial Ombudsman (CIFO) will 'open for business' and start resolving complaints about financial services.
CIFO is a pan-Channel Islands organisation set up by law in the Bailiwicks of Jersey and Guernsey to resolve complaints about financial services provided in or from Jersey, Guernsey, Alderney and Sark. The office is independent and will provide an informal, speedy, effective and free alternative to going to court for complainants.
CIFO will cover events from 1 January 2010 (if the financial services provider was in Jersey) or 2 July 2013 (if the financial services provider was in Guernsey/Alderney/Sark). Time limits for referring complaints may apply. This is particularly important for Jersey complaints relating to events in 2010 that have not already been considered by the financial services provider.
Such complaints should be promptly referred to the financial services provider. If the complaint remains unresolved, then it should be referred promptly to CIFO once the office opens.
CIFO will not have powers to investigate complaints until the 16 November, subject to approval by the Jersey States Assembly and Guernsey States of Deliberation.