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ASIC approved external dispute resolution schemes



We update this list when we approve other schemes.


1.Financial Ombudsman Service (FOS)
On 1 July 2008, the Banking and Financial Services Ombudsman (BFSO), Financial Industry Complaints Service (FICS) and Insurance Ombudsman Service (IOS) merged to form the national Financial Ombudsman Service (FOS). Insurance Brokers Disputes and the Credit Union Dispute Resolution Centre have also joined FOS.

FOS will operate the rules of the existing schemes until 1 January 2010 when a single set of rules will come into effect. The intention is then to wind down the existing schemes.

Contact FOS on 1800 780 808
Email: info@fos.org.au
Website: http://www.fos.org.au
See media release 08-103
2.Financial Industry Complaints Service (FICS)
FICS deals with complaints about financial services providers including life insurers, funds managers, investment advisers and planners, stockbrokers and some superannuation providers.

Contact FICS on 1300 780 808 (local call rate).
Email:
fics@fics.asn.au
Website:
http://www.fics.asn.au/
See media releases
00/9, 99/395, 99/419.

NB – FICS is now part of the Financial Ombudsman Service (see above).
3.Insurance Ombudsman Service Limited (IOS)
IOS deals with complaints about general insurance companies.


Contact IOS on 1300 780 808 (local call rate) or 03 9629 4109
Email:
ios@insuranceombudsman.com.au
Website: www.insuranceombudsman.com.au
See information release
IR 00/026.

NB – IOS is now part of the Financial Ombudsman Service (see above).
4.Banking and Financial Services Ombudsman (BFSO)
BFSO deals with complaints about financial services providers including banks, foreign exchange dealers, deposit takers, credit providers, mortgage brokers and some insurance and investment providers.

Contact BFSO on 1300 780 808 (local call rate).
Website:
http://www.bfso.org.au/
See media release
01/339.

NB – BFSO is now part of the Financial Ombudsman Service (see above).
5.Credit Union Dispute Resolution Centre (CUDRC)
CUDRC deals with complaints about most Australian credit unions.
Contact CUDRC on 1300 780 808 (local call rate).
Email: info@cudrc.com.au
Website: www.cudrc.com.au
See media release 02/310

NB – CUDRC is now part of the Financial Ombudsman Service (see above).
6.Insurance Brokers Disputes Limited (IBD)
IBD deals with complaints about general or life insurance brokers.

Contact IBD on 1300 780 808 or 03 9620 0166
Email: info@ibdltd.com.au
Website: www.ibdltd.com.au

NB – IBD is now part of the Financial Ombudsman Service (see above).
7.Financial Co-operative Dispute Resolution Scheme (FCDRS)
The FCDRS deals with complaints from consumers about those Australian credit unions and building societies who are members of the scheme.

Contact FCDRS on 1300 139 220 (local call rate)
Email: ombudsman@fcdrs.org.au
Website: www.fcdrs.org.au
8.Credit Ombudsman Service Ltd (COSL)
COSL deals with complaints about individuals and companies that operate in the credit industry and are members of the scheme. (Formerly called the Mortgage Industry Ombudsman Service).

Contact COSL on 1300 780 808 (toll free)
Fax: 02 9267 3125
Email: info@creditombudsman.com.au
Website: www.creditombudsman.com.au
See media release 03-411

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 780 808
Fax: (03) 8635 5588
E-mail: info@sct.gov.au
Website: www.sct.gov.au

How we approve dispute resolution schemes



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