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special issue - April 2014

Chief Ombudsman's Message

This is a special issue of the Circular to inform you of the action FOS is taking in response to its recent independent review. Other Circular news items include: a snapshot of our submission to the Financial System Inquiry (FSI) unpaid Determinations: $8,335,479.95 plus inte...READ MORE

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FOS Forum

Improving our dispute process

We have announced the areas we will focus on to improve our dispute process. By 1 July 2015 or before, FOS will: introduce a new process to fast-track decisions for simpler and low-value disputes review our current two-step dispute lodgement processes, with the aim of introdu...READ MORE

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Unpaid Determinations

The issue that some consumers have not received compensation from financial services providers following FOS Determinations is a serious one. This is now emerging as a structural issue in our investments jurisdiction. While it only involves a small minority of our members provi...READ MORE

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FOS News

Financial System Inquiry

FOS has made a submission to the Financial System Inquiry which says consumer trust in the sector is essential to ensuring Australia has a dynamic, innovative and competitive financial sector. While there are many important elements that underpin consumer trust in financial ser...READ MORE

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Support for Financial Counselling Australia

Financial counsellors have an important and trusted function in local communities across Australia. They play a key role in connecting vulnerable and disadvantaged members of the community to legal aid practitioners and alternative dispute resolution schemes, such as the Financ...READ MORE

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