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14 October 2016
The Financial Ombudsman Service Australia (FOS) has submitted to the government’s review of EDR key recommendations to build on the strengths of the current Ombudsman model based on the principles of fairness, openness, simplicity and adaptability. Read more
05 September 2016
The Financial Ombudsman Service (FOS) Australia has reduced the average time taken to resolve disputes by more than one-third without compromising the quality of outcomes. The 2015-16 Annual Review shows that FOS resolved disputes in an average of 62 days compared with 95 days in 2014-15. It also closed 43% of disputes within 30 days (almost double last year’s 22%). Read more
Tags:  annual review
25 August 2016
The independent expert panel appointed by the government to review external dispute resolution and complaints schemes in the financial sector should be allowed to complete its work before the government makes any decisions on a banking tribunal or other proposed changes to current dispute arrangements. Read more
17 August 2016
The conference theme is Beyond the promise – a new resolve. The theme reflects FOS’s commitment to working with all its stakeholders to achieve improved standards, ethical practices and service levels across the sector, and to delivering a fast, fair and efficient dispute handling process. Read more
Tags:  events, members
08 August 2016
The Financial Ombudsman Service Australia (FOS) has welcomed the release of Terms of Reference (the terms) for the review of the dispute resolution (EDR) and complaint framework for the financial system. Read more
07 June 2016
The Financial Ombudsman Service (FOS) Australia has activated its significant event response plan following the east coast low impacting New South Wales and Queensland. Read more
21 April 2016
The Financial Ombudsman Service (FOS) Australia today welcomed the support of the Australian Bankers’ Association for a compensation scheme to help consumers who are awarded money when disputes are resolved. Read more
20 April 2016
The Financial Ombudsman Service (FOS) Australia today said it would work with ASIC on the review of FOS’s small business jurisdiction under its Terms of Reference announced by the Australian Government. Read more
17 March 2016
The Financial Ombudsman Service (FOS) Australia today clarified its involvement in a dispute referred to on ABC 7.30. Read more
Tags:  disputes
21 January 2016
The Financial Ombudsman Service (FOS) Australia welcomes the release of ASIC's report 'Paying to get out of debt or clear your record: The promise of debt management firms'. Read more