The Ombuds Blog: FINRA Ombuds Publishes 2014 Report

August 18, 2015

FINRA Ombuds Publishes 2014 Report

Cindy Foster, the Ombudsperson for the Financial Industry Regulatory Authority, says that 575 constituents contacted her office in 2014, a slight increase compared to the 567 cases received in 2013. Inquiries from current and former brokers, however, jumped 31 percent, more than offsetting a decline in contacts from individual investors.

FINRA-related complaints comprised 42 percent of total cases, which represents a 17 percent increase when compared to 2013. In addition to statistical summaries, the report also offered five types of case trends. (FINRA 2014 Report.)

Related posts: SEC Affirms Role of NASD Ombuds; Securities Broker-Dealers Indicate Dissatisfaction with FINRA Ombuds;FINRA Directors Defend Ombuds Program; Ombuds for Financial Industry Regulatory Authority Publishes First Annual Report; Job Posting.

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Organizational Ombuds

Organizational Ombuds serve as a confidential, independent, neutral and informal dispute resolution resource for a specific entity. They are accessible to a defined population and can advocate for fairness. These unique characteristics distinguish Organizational Ombuds from Classical Ombuds, mediators, arbitrators, and other alternative dispute resolution professionals. The term "Ombuds" is shorthand for "Ombudsman," "Ombudsperson" and "Ombuds Officer," which also are used widely.

Some other variants include:

Austria -- Ombudsstelle

Brazil -- Ouvidor

Croatia -- pravobranitelji

France -- médiateur/defénseur

Germany -- Ombudspersonen

Italy -- difensore

Netherlands -- ombudspersoon

Norway -- ombudet

Poland -- Rzecznik

Portugal -- provedor

Russia -- омбудсмен

Spain -- ombudsman organizacional

Sweden -- studentombud

Switzerland -- ombudsmann

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