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Issue 25 - May 2016

Chief Ombudsman's Message

Welcome to the autumn edition of The FOS Circular for 2016. Financial services have been increasingly in the news, with a strong focus on culture, service, ethics and trust. The government recently announced that it has asked ASIC to review FOS’s small business jurisdiction and...READ MORE


FOS Forum

Key determination

This determination illustrates the importance of interpreting clauses in the context of the whole policy. The applicant had taken out travel insurance with the financial services provider. She was the only person insured on the Certificate of Insurance. Prior to departure, her ...READ MORE

Economy airline ticket.

FOS News

Upcoming events

Over the next few months we will be in Adelaide and Perth running sessions for our General Insurance members. Please visit our online events calendar regularly, where you can always keep up-to-date with our latest events and register your interest. Gene...READ MORE

Group of attendees at a FOS forum.
Listening to our members

Our member forums kicked off in March and were extremely well attended – our General Insurance forum in Melbourne had the highest number of registrations ever! There are more forums on the horizon and you can find out how to attend in the upcoming events section of this edition...READ MORE

FOS's Jamie Orchard addresses members at a forum event.
Considering more vulnerable consumers’ needs

FOS has been extremely active on the outreach front this quarter, with a presence at a diverse range of public events. We attended the Yabun Festival on Australia Day, the largest one day celebration of Aboriginal and Torres Strait Islander cultures in the country – the event w...READ MORE

Victoria’s Multicultural Commissioner Helen Kapalos speaks at FOS.
An update from the Code Compliance and Monitoring Team (FOS Code)

Bringing Banking code subscribers together for the Annual Bank forum. Each year, FOS Code and the Code Compliance and Monitoring Committee hold a forum for Code of Banking Practice subscribers. Representatives from 13 code-subscribing banks attended this year’s forum, held in A...READ MORE

A pulse monitoring line.
Under the spotlight: Chris Liamos

As a Fast Track Adjudicator, it’s not a surprise that Chris Liamos has a strong sense of fairness, both professionally and personally. “For me, fairness is not just about equal opportunity to be heard, although that’s a part of it. It’s more about understanding fully where both...READ MORE

Chris Liamos
Postcard from... Legal Aid NSW

Brenda Staggs was admitted as a lawyer on Friday the 13th, 2001 and as a result she considers this uncommon calendar quirk as lucky. While studying law, Brenda worked as a senior claims officer with (then) CU Insurance, and then practiced insurance litigation, specialising in m...READ MORE

Brenda Staggs
Unpaid determinations update

Continuing our reporting on the issue of some consumers not receiving compensation from financial services providers (FSPs) following FOS determinations, this article provides an update on the number of unpaid FOS determinations issued under the single FOS Terms of Reference. S...READ MORE

Unpaid Determinations

Systemic Issues

Systemic issues update

This article summarises some notable systemic issues that were newly identified during the March quarter of 2016. These de-identified matters were reported to the Australian Securities and Investments Commission (ASIC) in accordance with our processes. This article also provide...READ MORE

Silver coloured marbles on a plane.

Case Studies

Case studies

Mistaken internet payment – personal account. The applicant completed an internet banking transfer, intending to transfer funds to his daughter’s account. However, one of the digits in the account number was wrong so the funds were credited to an unintended third party account....READ MORE

Woman sitting on a couch with a laptop, looking at a bank card.


Statistics report

Disputes received at the registration and referral stage. Registration and referral is the first stage in our dispute resolution process. When we register a dispute, we record the basic details and refer them on to the financial services provider (FSP). We changed our dispute r...READ MORE

Circular 19 - statistics image.