There is no financial ombudsman scheme in the Bailiwick of Guernsey and the Commission has not been given the role of an ombudsman. It is not able to adjudicate in disputes between customers and regulated entities. Those considering lodging complaints with the Commission should always bear in mind the above limitations. If you feel you have a justified complaint against a regulated entity and you have suffered a loss you should first raise the matter with the regulated entity itself. If this does not resolve the matter to your satisfaction you are advised to seek advice from a qualified Guernsey advocate (lawyer). A list of Guernsey advocates is available from the Guernsey Bar website at www.guernseybar.com. You may also wish to consider exploring alternative dispute resolution to settle your dispute. If so it is suggested you contact the secretary of the Guernsey Mediation Group on (01481) 723723.

 

We do, however, expect regulated entities to have satisfactory systems and controls in place to enable them to deal with customer complaints in a thorough and prompt manner. We will therefore seek to ensure that the regulated entity handles your complaint properly. However, it is important to recognise that we do not have the power to adjudicate in a dispute or to order the institution to put matters right. In particular, we cannot order the institution to pay you compensation.

 

Complaints may indicate shortcomings in a regulated entity’s policies and/or procedures and the Commission will look into your complaint to see if it raises any regulatory or prudential concerns. However we cannot share with you the outcome of any investigation we might carry out into the complaint.