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Showing 1 - 10 of 13 results for "Ombudsman Scheme"

AFCA appoints lead ombudsman, investments and advice

CHLOE WALKER  |  TUESDAY, 9 MAY 2023
... trained and worked as a financial planner before becoming a case manager with an AFCA predecessor, the Financial Ombudsman Scheme, in 2010. AFCA deputy chief ombudsman June Smith said Singh brings deep and diverse experience to this role, having worked ...

AFCA adopts user pays funding model

CASSANDRA BALDINI  |  TUESDAY, 31 MAY 2022
... that applies to more frequent users of the service. Under the new model about 90% of members of the national ombudsman scheme will see a positive or neutral impact on total fees. The 10% of heavy scheme users that are expected to experience an increase ...

AFCA consults on funding

ELIZABETH MCARTHUR  |  THURSDAY, 10 MAR 2022
... more accurately reflect their usage, addressing cross-subsidisation of larger firms by smaller members of the ombudsman scheme. "It's a fair, transparent and equitable model that is supported by strong data and modelling," AFCA chief ombudsman and chief ...

AFCA membership deadline arrives

JAMIE WILLIAMSON  |  FRIDAY, 21 SEP 2018
... 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 accounts ...

ASIC marks AFCA milestone

KARREN VERGARA  |  THURSDAY, 13 SEP 2018
... 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 savings ...

Super disputes kept aside in Treasury review

DARREN SNYDER  |  WEDNESDAY, 7 DEC 2016
... all types of financial services and products. Crucially, the report does recommend creating a single industry ombudsman scheme for financial, credit and investment desputes to replace FOS and the CIO. "ASFA strongly agrees with the recommendation that ...

FOS and CIO should merge: report

ALEX BURKE  |  THURSDAY, 1 DEC 2016
... Australian and New Zealand Ombudsman Association (ANZOA) is that competition runs counter to the core principles of an Ombudsman Scheme." The report also found that should a merger occur, the majority of financial counsellors would prefer the new entity ...

ASIC finds life claim rates wildly inconsistent

ALEX BURKE  |  WEDNESDAY, 12 OCT 2016
... consumer." While he did not advocate "legislating for 'fairness'," he did say this idea should be "factored into the ombudsman scheme so they can take these issues into account."

Panel to review financial services complaints system

DARREN SNYDER  |  THURSDAY, 5 MAY 2016
... consumers resolve disputes with financial services providers. Under the review's watch will be the Financial Ombudsman Scheme; the Superannuation Complaints Tribunal; and the Credit and Investments Ombudsman. Assistant Treasurer Kelly O'Dwyer said the ...

New deputy chair for complaints tribunal

MEDIA RELEASE  |  WEDNESDAY, 21 OCT 2009
... the Legal Industry Superannuation Scheme. In addition, Smith was a credit ombudsman under the Victorian Credit Ombudsman Scheme and has served as president of the Law Institute of Victoria. The Tribunal, established by the Superannuation (Resolution ...
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