More worried investors turn to ombudsman

Questions about asset management and investments have made up over 25 per cent of inquiries to the Swiss Banking Ombudsman in the first half of 2008.

This content was published on July 1, 2008 - 11:08

In normal economic conditions, those types of requests generate 15 to 20 per cent of inquiries, ombudsman Peter Häni on said Tuesday.

The ombudsman also said that the number of inquiries his office received stabilised in 2007 at 1,470 compared with 1,467 in 2006.

Of the cases submitted to the ombudsman in 2007, 39 per cent led to an intervention. In 2006, the figure was 37 per cent.

In roughly half of cases between customers and financial institutions investigated, the ombudsman ruled against the financial institution and ordered compensation.

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