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Memorandum of Understanding between FOS and the CIO

The Financial Ombudsman Service Limited (FOS) and the Credit and Investment Ombudsman Limited (CIO) are external dispute resolution schemes approved by the Australian Securities and Investments Commission. Both FOS and CIO receive complaints and disputes against finance service providers (FSPs) who are members of their respective schemes.

The purpose of this Memorandum of Understanding is to document the arrangement between FOS and CIO in relation to membership applications from FSPs who are members of the other in the lead up to the commencement of the Australian Financial Complaints Authority (AFCA).