Finance Minister Edward Scicluna said today that consumers should have effective and efficient remedies when complaining on financial services.
Professor Scicluna was addressing the first meeting of the board of the Financial Services Arbiter’s Office. The office was set up by virtue of Act XVI of 2016. Former PL candidate Reno Borg was appointed Financial Services Arbiter.

The Finance Minister said he was hopeful that the board would ensure that the structures falling under the office would be set up in a timely manner.

The law, he said, created the necessary structures to analyse and investigate consumer complaints in an expedient manner.

Geoffrey Bezzina was appointed board chairperson. The other members are Peter Muscat and Dr Anna Mallia. Their appointment is for five years.

The arbiter’s term is seven years.