- About Our Office
- About the Complaints Process
- About the Participating Entities
The Financial Services Ombudsman decides if your complaint is valid by looking at the facts of the case – not at the way your complaint is presented. If you do decide to employ a professional (for example, an attorney-at-law) to present your case on your behalf, you would have to pay the cost personally. The cost would not be refunded even if the Financial Services Ombudsman upholds your complaint.
In case of banking complaints, she will not treat with matters relating to:
- the general interest rate and risk policies concerning the granting of loans and
- the pricing of products and services in the case of banking complaints
- credit decisions
- any transactions that occurred prior to January 1, 2003
In the case of insurance complaints, she will not treat with:
- insurance premium rates and underwriting decisions
- group pension plans and deposit administration schemes
- actuarial calculations
- surrender values and investment rates for life policies
- alleged false or misleading marketing practices and
- third party personal injury claims arising out of motor accident
- any act or omission that took place prior to January 1, 2004
Can the Ombudsman consider complaints arising from the foreign operations of the financial institutions of Trinidad and Tobago?
The matter must have been first referred to the institution at which the complaint arose and the complainant is not satisfied;
The act or omission which forms the subject of a complaint must have first occurred on or after January 1, 2003 in the case of a banking complaint and after January 1, 2004 in the case of an insurance complaint;
The complaint must not be related to the institution’s general risk management policies or pricing or products and services;
The complaint shall be in writing duly signed by the complainant and his authorised representative, if any, on the prescribed form which can be obtained from the Office of the Financial Services Ombudsman or downloaded by clicking on the Complaint Form.
If I still remain dissatisfied with the matter after it has been determined by the Office of the Financial Services Ombudsman, can I go to court?
- The Bank or Insurance company has completed its review and communicated its findings to the customer or
- The Bank or Insurance company did not achieve a resolution by a time period determined by the Ombudsman and
- The Bank or Insurance company has informed the Complainant, in writing, of the existence of the Ombudsman and of the time limitation.
The act or omission resulting in the complaint must have occurred on or after January 1, 2003 in the case of a banking complaint; and after January 1, 2004 in the case of an insurance complaint.
The customer may file a complaint for a problem occurring before those dates only if the complainant was not aware of it and could not have been made aware of it before those dates.
What happens if the bank or insurance company does not accept the recommendation of the Financial Services Ombudsman?
- ANSA Merchant Bank Limited
- Caribbean Finance Company Limited
- Development Finance Limited
- Fidelity Finance and Leasing Company Limited
- Guardian Asset Management Limited
- Island Finance Trinidad and Tobago Limited
- Massy Finance GFC Limited
- NCB Global Finance Limited
- Bank of Baroda (Trinidad and Tobago) Limited
- Citibank (Trinidad and Tobago) Limited
- Citicorp Merchant Bank Limited
- First Caribbean International Bank (Trinidad and Tobago) Limited
- First Citizens
- First Citizens Asset Management Limited
- First Citizens Trustee Services
- Intercommercial Bank Limited
- Intercommercial Trust and Merchant Bank Limited
- RBC Royal Bank (Trinidad and Tobago) Limited
- RBC Merchant Bank Limited
- RBC Trust Limited
- Republic Bank Limited and
- Republic Finance & Merchant Bank Limited
- Scotiabank Trinidad and Tobago Limited
- Scotiatrust and Merchant Bank Trinidad and Tobago Limited
- Assuria Life (T&T) Ltd
- Pan American Life Insurance Company Limited
- Bancassurance Caribbean Limited (Guardian Group)
- Bankers Insurance Company of Trinidad and Tobago Limited
- British American Insurance Company (Trinidad) Limited.
- Capital Insurance Limited
- Colonial Fire and General Insurance Company Limited
- Colonial Life Insurance Company (Trinidad) Limited.
- Cuna Caribbean Insurance Society Limited
- Demerara Life Assurance Company Trinidad and Tobago Limited
- Furness Anchorage General Insurance Limited
- Nagico Industries
- Guardian General Insurance Limited
- Guardian Life of the Caribbean Limited
- Gulf Insurance Limited
- Maritime General Insurance Company Limited
- Maritime Life Caribbean Limited
- Massy United Insurance Company Limited
- Motor and General Insurance Limited
- Mega Insurance Company Limited
- MotorOne Insurance Company Limited
- Sagicor General Inc.
- Sagicor Life Inc.
- ScotiaLife Trinidad and Tobago Limited
- Tatil Life Assurance Limited
- The Beacon Insurance Company Limited
- The Great Northern Insurance Company Limited
- The New India Assurance Company Limited
- The Presidential Insurance Company Limited
- Trinidad and Tobago Insurance Limited
- Trinre Insurance Company Limited