LAST WEEK, on March 1, the office of the National Financial Ombud (NFO) opened its doors, replacing the four voluntary industry-based ombud schemes representing short-term insurers, long-term insurers, banks and non-bank credit providers.
Two statutory schemes, the Ombud for Financial Services Providers (better known as the Fais Ombud, after the Financial Advisory and Intermediary Services Act) and the Pension Funds Adjudicator, remain separate.
The launch date for the NFO was originally January 1, but admin hiccups delayed it for two
