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FSCL Independent Review – Submissions invited

Every 5 years Financial Services Complaints Ltd is required to have an independent review of its operations, to make sure it is acting in a fair and effective manner, and in accordance with the terms of its approval under the Financial Service Providers (Registration and Dispute Resolution) Act 2008 and its terms of reference.  The review report will be sent to the Minister of Consumer Affairs and published on Financial Services Complaints Ltd’s website. 

The Foundation for Effective Markets and Governance (FEMAG) has been contracted to undertake the 5-yearly review of Financial Services Complaints Ltd.  FEMAG is a not-for-profit organisation which advises on consumer policy and regulation. You can see more details of this organisation on  www.femag.org.au

FEMAG will contact stakeholders and a sample of people who have made contact with or used the services of FSCL, to gain feedback on their experiences.  These discussions will take place during the week commencing November 17, 2014. 

To ensure confidentiality of individual contact details, FSCL will write to those to be interviewed, asking them to contact FEMAG. FEMAG also invites submissions from any interested parties.  The review’s terms of reference can be viewed here.

The report will not identify any individuals.  No personal information will be passed on to FSCL unless a respondent asks for that to happen. 

If you have any questions about this review or wish to make a submission, please contact Murray Proctor, Executive Director of FEMAG at  review@femag.org.au , or send your submission to FEMAG, c/- P O Box 5967, Wellington 6145. Please provide any submission by no later than Monday 1 December 2014.

Welcome to Financial Services Complaints Ltd

We are an independent not-for-profit external dispute resolution scheme approved by the Minister of Consumer Affairs under the Financial Service Providers (Registration and Dispute Resolution) Act 2008.

We are free to consumers.
We are independent.
We are fair.


We focus on resolving complaints through conciliation and assisted negotiation. We also make formal determinations which are binding on financial service providers.
Learn more about our process »

We are a financial complaints service that works with you to resolve a complaint

  • We work with the consumer and the financial service provider to resolve the complaint.
  • We act independently by not taking sides.  
  • We are an alternative to the legal system, we work confidentially and less formally to find a fair outcome to a complaint.



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After accepting an insurance proposal and signing a terms of engagement clients decided not to proceed and were contractually obliged to pay their financial adviser for the costs incurred.  Read more »

Lessons to be learned when dealing with significant financial hardship applications
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A series of refinanced loans
Refinancing of loan balances - is this of benefit or detriment to the borrower?  Read more »

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