Publication
Financial services monthly wrap-up: October 2024
In October 2024, the Australian Securities and Investments Commission (ASIC) was successful in its action against a life insurer in relation to misleading statements.
Pensions Ombudsman and PPF Ombudsman annual report and accounts 2023 to 2024 published
United Kingdom | Publication | October 2024
The Pensions Ombudsman and PPF Ombudsman Annual Report and Accounts 2023 to 2024 has been published. The report marks the first full year in post as Ombudsman for Dominic Harris.
The report highlights a challenging year for Pensions Ombudsman following the cyber incident that was discovered in June 2023. As a result of these challenges, the Ombudsman was not able to repeat the success of the previous year in closing more cases than it received.
The report reveals that the number of closures reduced from 7,784 in 2022/23 to 6,634 in 2023/24 as a result of the impact of the cyber incident, as well as market challenges in recruiting and retaining skilled staff on fixed-term contracts commensurate with the Ombudsman’s funding model, and an increase in the number of complex cases that remain in its historical caseload.
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