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FSPO Annual Report 2023
On 6 August 2024, the Financial Services and Pensions Ombudsman (FSPO) published the Annual Report 2023. The report noted that 6,182 complaints were received in 2023 which reflected a 29% increase compared to the previous year. The report also noted that 5,184 complaints had been closed and over 2,300 legally binding decisions had been published in 2023. The report discusses the FSPO’s Strategic Plan 2021 - 2024 under the headings of evolving and innovating, connecting and engaging, sharing and influencing and developing people.
FSPO Strategic Plan 2025-2027 public consultation
The FSPO has launched a public consultation as part of its development of its Strategic Plan for 2025 - 2027. The consultation will run until 20 September 2024. The FSPO has invited customers, stakeholders and organisations that have an interest in the role of the FSPO to share their views.
European Commission provides further clarifications on EU corporate sustainability reporting rules
On 7 August 2024, the European Commission published frequently asked questions (FAQs) regarding the implementation of EU corporate sustainability reporting rules arising from the Directive on Corporate Sustainability Reporting (the CSRD). The FAQs respond to input received from stakeholders and address questions regarding the scope of the rules, application dates and exemptions. Mairead McGuiness, Commissioner for Financial Services, Financial Stability and Capital Markets Union, addressed the publication of the FAQs noting the focus of the Commission on providing clarifications to reduce the administrative burden on companies. The CSRD came into force on 5 January 2023 and the first companies subject to the reporting requirements will be required to report in 2025 on their activity in 2024.
For more information on these topics plpurport ease contact any member of A&L Goodbody's Financial Regulation Advisory team.
This publication provides an overview of certain legal and regulatory developments that may be of interest to certain entities. It does not purport to provide analysis of law or legal advice and is strictly for information purposes only.