Message from the Chief Ombudsman

Welcome to eNews

It is my pleasure to welcome you to the first edition of eNews from the Financial Ombudsman Service.

The Financial Ombudsman Service was launched by the Hon Nick Sherry, Minister for Superannuation and Corporate Law, on 10 July 2008. I am pleased to be leading a newly established, highly skilled and experienced organisation which provides a quality service to consumers and our members.

At the Financial Ombudsman Service we bring together many years experience in resolving disputes involving the complete range of financial services products. As many of you will be aware, the new Financial Ombudsman Service brings under one roof independent dispute resolution services for up to 80% of Australian banking, insurance, investment and other financial services disputes. We are sure that the simplified structure will enable greater ease of access to our services for consumers and the industry alike.


Thanks

I would like to take this opportunity to thank: Philip Field, Ombudsman – Banking & Finance, Alison Maynard, Ombudsman – Investments, Life Insurance & Superannuation and Sam Parrino, Ombudsman – General Insurance, for their help and support during the months leading up to this merger. I would also like to thank the Chair of our transitional Board, Mr Peter E Daly AM, for his ongoing encouragement and support during this time as well each of the following board members for their unstinting support and encouragement:

• Fiona Guthrie (BFSO Board Member)
• Kerrie Kelly (Insurance Council of Australia and IOS Board Member)
• Dr Elizabeth Lanyon (IOS Board Member)
• Jenni Mack (FICS Board Member)
• Russell McKimm (former financial planner and stockbroker and FICS Board Member)
• Professor the Hon Michael Lavarch (BFSO Chair)
• David Squire (of MLC and FICS Board Member)
• Susie Upton (BFSO Board Member)

About eNews

Financial Ombudsman Service eNews will update our many stakeholders on vital issues and trends we are seeing in financial services disputes and complaints. In Latest Developments, you will receive updates from the three Ombudsmen on issues of importance as well as an overview of recent trends in cases. The Case Studies sections will contain examples of recent important cases and determinations where applicable. The newsletter will also contain news about recent initiatives from the Financial Ombudsman Service, such as educational outreach programmes, new publications and consumer education priorities.

In later editions, we will include a Q&A section, creating a forum for all stakeholders to submit questions to myself and the other Ombudsmen, as well as regular updates on news about the Banking Code of Practice and the General Insurance Code of Practice.

I hope you will enjoy our new publication and I look forward to hearing from any of you with views on how we can improve our newsletter to meet your information needs.