Complaint schemes to stay apart
The Investment & Financial Services Association (IFSA) has refuted claims that it is holding formal talks to merge its external complaints resolution scheme.
However, Money Management understands informal discussions have taken place be-tween IFSA and the Financial Planning Association canvassing that option.
IFSA says there are no formal discussions in regard to merging the Life Insur-ance Complaints Scheme (LICS) with the Financial Services Complaints Resolution Scheme.
IFSA says it remain
The Investment & Financial Services Association (IFSA) has refuted claims that it is holding formal talks to merge its external complaints resolution scheme.
However, Money Management understands informal discussions have taken place be-tween IFSA and the Financial Planning Association canvassing that option.
IFSA says there are no formal discussions in regard to merging the Life Insur-ance Complaints Scheme (LICS) with the Financial Services Complaints Resolution Scheme.
IFSA says it remains committed to working with LICS to ensure that the scheme will be approved (by ASIC's 1 November 1999 deadline) not only to handle life insurance and advice complaints, but also to deal with complaints from managed investment customers as required under the Managed Investments Act.
ends
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