ASIC-approved external dispute resolution schemes
We regularly update this list with new schemes.
1. Financial Ombudsman Service (FOS)
FOS deals with complaints across a diverse range of financial and credit products and services - including complaints against banks, credit unions, foreign exchange dealers, deposit takers, credit providers, mortgage brokers, general insurers, insurance brokers, life insurers, funds managers, financial advisers and planners, stockbrokers and some superannuation providers.
On 1 July 2008, FOS was formed by the merger of the Banking and Financial Services.
Note: FICS is now part of the Financial Ombudsman Service (see above).
2. Insurance Ombudsman Service Limited (IOS)
See information release IR 00/026.
Note: IOS is now part of the Financial Ombudsman Service (see above).
3. Banking and Financial Services Ombudsman (BFSO)
See media release 01/339.
Note: BFSO is now part of the Financial Ombudsman Service (see above).
4. Credit Union Dispute Resolution Centre (CUDRC)
See media release 02/310
Note: CUDRC is now part of the Financial Ombudsman Service (see above)
5. Insurance Brokers Disputes Limited (IBD)
IBD is now part of the Financial Ombudsman Service (see above).
6. Financial Co-operative Dispute Resolution Scheme (FCDRS)
7. Superannuation Complaints Tribunal
The Superannuation Complaints Tribunal (SCT) is an independent tribunal set up by the Commonwealth Government to deal with complaints about superannuation funds, annuities and deferred annuities, and retirement savings accounts. If all of the financial services you provide are covered by the SCT, you do not have to join an approved external dispute resolution scheme.
Phone: 1300 884 114 or (03) 8635 5580
Fax: (03) 8635 5588
E-mail: info@sct.gov.au
Website: www.sct.gov.au
How we approve dispute resolution schemes
ASIC Website: Printed 07/29/2010
