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Showing 61 - 70 of 89 results for "Financial Ombudsman Service"

Macquarie forced to contact all advice clients for remediation

LAURA MILLAN  |  FRIDAY, 15 AUG 2014
... to cover the costs of that. Unsatisfied Macquarie customers will be able to raise the issue to the Financial Ombudsman Service (FOS), which has agreed to waive the usual limitation periods or claim thresholds in this particular matter. The EU is being ...

CBA, ASIC unveil details of new compensation scheme

LAURA MILLAN  |  FRIDAY, 8 AUG 2014
... CFPL or FW, as well as the compensation offer. Clients will also be able to refer their matter to the Financial Ombudsman Service (FOS) with both licensees "agreeing to waive any limitation period or claim threshold that would normally apply to FOS matters." ...

Macquarie tight-lipped on EU details

LAURA MILLAN  |  FRIDAY, 25 JUL 2014
... independent expert. The group also said that "client remediation approach based on consistent application of Financial Ombudsman Service principles and is subject to oversight by Deloitte and ASIC.

CBA opens up compensation review to all advice clients

LAURA MILLAN  |  THURSDAY, 3 JUL 2014
... compensation is payable and, if so, how much. Customers will also be able to take the matter to the Financial Ombudsman Service. Narev did not give details of how the independent panel would be set up, how its members will be chosen or who they will ...

FOS model outdated, in need of major change

LAURA MILLAN  |  WEDNESDAY, 12 MAR 2014
The current Financial Ombudsman Services (FOS) model is in need of major changes in order to meet industry and consumer expectations, an independent review found. The review conducted by Cameron Ralph Navigator (CRN) is the first independent review ...

ANZ praises ASIC "integrity" amid consumer complaints

LAURA MILLAN  |  WEDNESDAY, 6 NOV 2013
... in a fair and responsible way." The bank encouraged customers to raise their concerns through the Financial Ombudsman Service (FOS). However, a review of the consumer submissions reveals that both the bank and the FOS have seemed to fail in addressing ...

Advice main concern in FOS investment disputes

LAURA MILLAN  |  WEDNESDAY, 23 OCT 2013
... Financial advice keeps being the main concern for consumers who lodge investment-related claims to the Financial Ombudsman Service (FOS). The FOS 2012-13 annual review found an 11% reduction of all disputes. In total, the FOS received 32,307 disputes ...

ASIC cancels Perth stockbroker's licence

JAMES FERNYHOUGH  |  THURSDAY, 1 AUG 2013
... inquiries into Stellar Securities, and has directed anyone with a complaint against the firm to the Financial Ombudsman Service.

First submissions to ASIC inquiry made public

LAURA MILLAN  |  FRIDAY, 26 JUL 2013
... to the Commission. The couple doesn't disclose which bank made the loan, but it complains that the Financial Ombudsman Service (FOS) has closed the file because it exceeds its jurisdictional limit of $500,000 and asks for more protection by ASIC. "I ...

FPA calls for improved education on advice

LINDA HAUSKEN  |  TUESDAY, 8 MAY 2012
... Financial Planning Association (FPA), Australian Securities & Investments Commission (ASIC) and the Financial Ombudsman Service (FOS) hosted an educational workshop for advisers to combat issues addressed in the recently released ASIC Shadow Shop Survey ...