FSCL is an independent not-for-profit External Dispute Resolution (EDR) scheme approved by the Minister for Consumer Affairs under the Financial Service Providers (Registration and Dispute Resolution) Act 2008. It has been set up specifically to deal with disputes arising out of financial products and services. It is operated by financial dispute resolution specialists and is therefore not connected with finance industry groups or consumers.
FSCL is governed by a board that includes industry representatives, and consumer representatives and an independent chair. After consultation with industry and consumers, the structure of FSCL has been designed to deliver positive outcomes for all involved. For more details view our Constitution.
The scheme is free to consumers. Funding is provided by Financial Service Providers who recognise the importance of offering independent and impartial alternative dispute resolution to their customers.
FSCL has a two stage process. The first stage is investigation of the complaint with a view to facilitating an agreed resolution. The primary focus is resolving as many disputes as possible using this conciliation method. If an agreed resolution cannot be reached FSCL may make a decision that is binding on the Financial Service Provider. See our terms of reference for more details.
FSCL is focused on achieving efficient and cost effective dispute resolution that serves both the consumer and the finance industry.
FSCL is a Member of the International Network of Financial Ombudsman Schemes.
Please feel free to browse around our website for more information about FSCL.