What is a Determination?
The Ombudsman may require in the Determination that the FSP:
- pay compensation for any direct loss the Ombudsman determines the consumer has suffered, up to $309,000.
- do, or refrain from doing, some act in relation to the subject matter of the complaint.
If the consumer accepts the Determination, the Determination becomes binding on the Member.
If the consumer chooses not to sign, the Ombudsman may declare the complaint closed without resolution. If the consumer accepts but the Member does not accept, the Ombudsman may make a binding Award in terms of that Determination.
Any Determination or Award made by the Ombudsman will be in writing and will include a statement of reasons.