EDR

Policy & Regulation

While the Government and FOS have supported the single ombudsman scheme, the CIO has rejected the recommendation by calling it ‘vexing’....

Financial planning

Govt signals support for single EDR scheme

The Government has signalled its support for the recommendations of the special panel reviewing financial services external dispute resolution for a single body amalgamat...

Financial planning

FOS should be benchmark in EDR merger

The FOS has used a report from the Financial Counselling Australia to argue that its processes should be the benchmark in any mergers of EDR schemes....

Policy & Regulation

Support builds for last resort compensation scheme

The Government’s review of financial services external dispute resolution has revealed overwhelming industry support for a last resort compensation scheme....

Policy & Regulation

Consumers rarely pursue EDR without legal counsel

The Law Council of Australia claims few consumers are capable of pursuing disputes through FOS and other EDR providers without legal representation or advice....

Superannuation

Super funds reject FOS model

Superannuation funds put a strong argument to the Government for rejecting the FOS model of external dispute resolution and retaining the Superannuation Complaints Tribun...