On 20 September 2017, National Treasury published “A Known and Trusted Ombud System for All” and invited the public to submit their views and comments to marketconduct@treasury.gov.za before 30 November 2017.
Various options to reform the Ombud system are proposed in this document, which include:
- Enhancing the hybrid model of statutory and industry ombuds, building on the Financial Sector Regulation Act provisions.
- Moving towards a centralised model, establishing a single statutory Ombud scheme.
- Moving towards exclusively industry establish ombuds with strong oversight by the Ombud Council.