 The Financial Ombudsman Service (which was created by the merger of FICS with the banking and the insurance Ombudsmen in July) is consulting on its new Terms of Reference.
The Terms of Reference cover the following areas:
o Jurisdiction to hear and determine complaints
o Appointment and powers of decision makers
o The decision making process, and
o Referral of matters to ASIC
Submissions are due 10 October, and we are consulting with members. FOS is also conducting a series of meetings to discuss the TOR.
SDIA submissions are available to Members on our website: www.sdia.org.au
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