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Showing 41 - 50 of 95 results for "Financial Ombudsman"

Financial dispute authorities combined for 'one-stop-shop'

EMMA RAPAPORT  |  TUESDAY, 9 MAY 2017
... affordable process for consumers. The Australian Financial Complaints Authority (AFCA) will operate in place of the Financial Ombudsman Service, the Credit and Investments Ombudsman and the Superannuation Complaints Tribunal as an industry funded complaints ...

CBA defends 'incorrect' personal advice claims

JAMIE WILLIAMSON  |  MONDAY, 16 JAN 2017
... personal advice was not provided," he said. Gamertsfelder also cited a review of the case conducted by the Financial Ombudsman Service in 2012 which found in favour of the bank. Despite this, Gamertsfelder did concede that the Open Advice Review program ...

Ombudsman takes on ANZ fairness role

JAMIE WILLIAMSON  |  THURSDAY, 15 DEC 2016
... wealth customers in Australia. Neave is currently a Commonwealth Ombudsman and a former chief ombudsman of the Financial Ombudsman Service. He also previously served as the Australian Banking Industry Ombudsman, chairperson of the Legal Services Board ...

Super disputes kept aside in Treasury review

DARREN SNYDER  |  WEDNESDAY, 7 DEC 2016
... would not be appropriate to replace the three existing schemes - the Superannuation Complaints Tribunal (SCT), Financial Ombudsman Service (FOS) and Credit and Investments Ombudsman (CIO) - with a single scheme covering all types of financial services ...

FOS and CIO should merge: report

ALEX BURKE  |  THURSDAY, 1 DEC 2016
The Financial Ombudsman Service and the Credit and Investments Ombudsman would be better off as a single entity, according to a new Financial Counselling Australia report. The report, based on a survey of FCA members, found that 75% of financial counsellors ...

Bank inquiry recommends breaking big four oligopoly

ALEX BURKE  |  FRIDAY, 25 NOV 2016
... licence." Other recommendations focused on compliance and remediation, the biggest of which was saying the Financial Ombudsman Service, the Credit and Investments Ombudsman and the Superannuation Complaints Tribunal should be either scrapped or amalgamated ...

CommInsure continues to be investigated

DARREN SNYDER  |  WEDNESDAY, 12 OCT 2016
... legal advice, engaged extensively with CommInsure and CommInsure's independent reviewers, and liaised with the Financial Ombudsman Service and the Superannuation Complaints Tribunal in relation to CommInsure matters. The update of sorts comes as ASIC ...

Inappropriate advice drives disputes

KERRIE SYDEE  |  TUESDAY, 6 SEP 2016
The Financial Ombudsman Service (FOS) received 34,095 disputes in 2015-16, a 7% increase on the previous year, according to the FOS 2015-16 annual review. Of the 20,298 disputes accepted 1,141 were investments and advice disputes (5%) and 1,095 were ...

Storm Financial investor slams court decision

ALEX BURKE  |  MONDAY, 29 AUG 2016
... Storm." He added that ASIC alone could never stop "criminally-inclined pushing of the boundaries," and that the Financial Ombudsman Service was fundamentally biased in the banks' favour: "It's funded by the banks. I was negotiating with Westpac on behalf ...

Terms of reference released for complaints system review

KERRIE SYDEE  |  MONDAY, 8 AUG 2016
... expert panel consisting of Professor Ian Ramsay (chair), Julie Abramson and Alan Kirkland and will examine the Financial Ombudsman Service (FOS), the Superannuation Complaints Tribunal, and the Credit and Investments Ombudsman to ensure that they're ...