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Showing 11 - 20 of 95 results for "Financial Ombudsman"

Budget: RC response to cost over $600m

HARRISON WORLEY  |  TUESDAY, 2 APR 2019
... and business who remain unpaid over dispute resolution determinations made by legacy mechanisms such as the Financial Ombudsman Service. The Financial Services Reform Implementation Taskforce set up within Treasury to carry out the Government's responses ...

FPA disciplines two members

HARRISON WORLEY  |  MONDAY, 4 MAR 2019
... complaint in November 2017. The CRC found Bainbridge fabricated documents issued from her practice to the Financial Ombudsman Service in response to the client complaint. Despite not actually fabricating the documents, Bainbridge accepted responsibility ...

TAL and Zurich lead inflows, CommInsure lags: Strategic Insights

KARREN VERGARA  |  WEDNESDAY, 9 JAN 2019
... and AMP (-0.7%). CommInsure said in the Royal Commission round examining life insurance that it misled the Financial Ombudsman Service that was helping resolve a claimant's dispute by deliberately withholding medical information and delaying the ...

AFCA creates small businesses ombudsman role

KARREN VERGARA  |  FRIDAY, 16 NOV 2018
... devastating it can be when their financial disputes are not fairly resolved. On 1 November 2018, AFCA replaced the Financial Ombudsman Service, the Credit and Investments Ombudsman and the Superannuation Complaints Tribunal as the one-stop-shop for financial ...

One-stop complaints shop opens

DARREN SNYDER  |  THURSDAY, 1 NOV 2018
... said. "AFCA will have significantly higher monetary limits and compensation caps than were available under the Financial Ombudsman Service (FOS) and Credit and Investments Ombudsman (CIO)." It will be able to hear consumer complaints where the value ...

ANZ chief says remediation is "distracting"

KARREN VERGARA  |  FRIDAY, 12 OCT 2018
... hundreds of people made submissions to the Royal Commission to have their cases heard? Elliot said the purpose of Financial Ombudsman Service is to hear such cases. The panel said given it is being replaced by AFCA, it shows that customers still aren't ...

CommInsure, TAL engaged in troubling conduct: Royal Commission

KARREN VERGARA  |  MONDAY, 24 SEP 2018
... CommInsure and Colonial Mutual Life Assurance (CMLA) executive general manager Helen Troup accepted CBA misled the Financial Ombudsman Service (FOS) in the case of one claimant who suffered from a heart attack. It also made inappropriate challenges to ...

AFCA membership deadline arrives

JAMIE WILLIAMSON  |  FRIDAY, 21 SEP 2018
... resolution scheme, approving the rules and processed to be applied to all complaints. At the time, almost all Financial Ombudsman Scheme members had transferred their membership to AFCA. However, only 64% of superannuation trustees and retirement savings ...

ASIC marks AFCA milestone

KARREN VERGARA  |  THURSDAY, 13 SEP 2018
... credit representatives that deal with retail clients must join the AFCA scheme by 21 September 2018. Almost all Financial Ombudsman Scheme members have transferred their membership to AFCA, ASIC said. Only 64% of superannuation trustees and retirement ...

CommInsure misled FOS: Royal Commission

KARREN VERGARA  |  THURSDAY, 13 SEP 2018
CommInsure admitted it misled the Financial Ombudsman Service that was helping resolve a claimant's dispute by deliberately withholding medical information and delaying the process, the Royal Commission heard yesterday afternoon. Counsel assisting ...