The Ombud Council published draft Ombud Council Rules for the Ombud for Financial Services Providers (FAIS Ombud) for public comment in September 2023.

After considering comments received, the Ombud Council has submitted a revised draft of the Rules to Parliament for a period of 30 days while Parliament is in session, as required by section 103(1) read with section 98 of the Financial Sector Regulation Act, 2017. The 30 day period commenced on 15 April 2024 and is scheduled to end on 14 May 2024, although it is possible that timeframes may be affected by changes to Parliament’s timetable due to the upcoming May national elections.

Once the Parliamentary process is completed, and subject to any comments that may be made by Parliament, the final Rules will be published on the Ombud Council’s website and will come into operation on the date of publication.

For information, the Ombud Council attaches the following documents as submitted to Parliament: