Ombudsman

A A A

DEFINITION

An official who investigates complaints (usually lodged by private citizens) against businesses, financial institutions and/or the government. An ombudsman can be likened to a private investigator; although the decision is not typically binding, it does carry considerable weight with those who are sanctioned to uphold the rules and regulations pertaining to each specific case. When appointed, the ombudsman is typically paid via levies and case fees.

INVESTOPEDIA EXPLAINS

One high-profile case featuring an ombudsman, was the European Commission's antitrust action against Intel in 2009. After European Union antitrust regulators fined Intel over a billion dollars in May of that year, an ombudsman claimed that he had "found maladministration" in the commission's investigation of the chip maker. The ombudsman pointed out that the commission had failed to properly document a meeting with Dell Inc. in 2006 that was relevant to the case.




RELATED TERMS
  1. Restitution Payments

    The payment of punitive damages that are owed as a result of wrongdoing or neglect. ...
  2. Arbitration

    An informal hearing regarding a dispute. The dispute is judged by a group of ...
  3. Heads Of Agreement

    A non-binding document outlining the main issues relevant to a tentative partnership ...
  4. Judgment

    A court order to the loser of a lawsuit to pay the winner a specified sum of ...
  5. Perp Walk

    A slang term that describes the practice sometimes employed by law enforcement ...
  6. Rescission

    The right of an individual involved in a contract to return to a state identical ...
  7. Securities And Exchange Commission ...

    A government commission created by Congress to regulate the securities markets ...
  8. Neutral

    1) A term that describes an option on a security or market that is neither bullish ...
  9. Judgment Lien

    A court ruling that gives a creditor the right to take possession of a debtor's ...
  10. Punitive Damages

    Legal recompense that is levied as punishment for a wrong or offense committed ...
Related Articles
  1. How The SEC Places Rules On Penny Stocks
    Investing Basics

    How The SEC Places Rules On Penny Stocks

  2. When, Why And How To File A Complaint ...
    Credit & Loans

    When, Why And How To File A Complaint ...

  3. Are European ETFs Still A Good Buy?
    Chart Advisor

    Are European ETFs Still A Good Buy?

  4. Eight Financial Safeguards If Disaster ...
    Personal Finance

    Eight Financial Safeguards If Disaster ...

  5. Quantitative Easing: Does It Work?
    Investing News

    Quantitative Easing: Does It Work?

  6. Are there regulations against monopolies?
    Markets

    Are there regulations against monopolies?

  7. What is the Dodd-Frank Act? How does ...
    Economics

    What is the Dodd-Frank Act? How does ...

  8. How Effective Is The Chinese Wall?
    Investing Basics

    How Effective Is The Chinese Wall?

  9. Why Banks Are Scrambling To Hear Your ...
    Personal Finance

    Why Banks Are Scrambling To Hear Your ...

  10. Insider Selling Isn't Always A Bad Sign
    Options & Futures

    Insider Selling Isn't Always A Bad Sign

comments powered by Disqus
Hot Definitions
  1. Cash and Carry Transaction

    A type of transaction in the futures market in which the cash or spot price of a commodity is below the futures contract price. Cash and carry transactions are considered arbitrage transactions.
  2. Amplitude

    The difference in price from the midpoint of a trough to the midpoint of a peak of a security. Amplitude is positive when calculating a bullish retracement (when calculating from trough to peak) and negative when calculating a bearish retracement (when calculating from peak to trough).
  3. Ascending Triangle

    A bullish chart pattern used in technical analysis that is easily recognizable by the distinct shape created by two trendlines. In an ascending triangle, one trendline is drawn horizontally at a level that has historically prevented the price from heading higher, while the second trendline connects a series of increasing troughs.
  4. National Best Bid and Offer - NBBO

    A term applying to the SEC requirement that brokers must guarantee customers the best available ask price when they buy securities and the best available bid price when they sell securities.
  5. Maintenance Margin

    The minimum amount of equity that must be maintained in a margin account. In the context of the NYSE and FINRA, after an investor has bought securities on margin, the minimum required level of margin is 25% of the total market value of the securities in the margin account.
  6. Leased Bank Guarantee

    A bank guarantee that is leased to a third party for a specific fee. The issuing bank will conduct due diligence on the creditworthiness of the customer looking to secure a bank guarantee, then lease a guarantee to that customer for a set amount of money and over a set period of time, typically less than two years.
Trading Center