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Issue 16 - January 2014

Chief Ombudsman's Message

Welcome to the first issue of The Circular for 2014. Already it is shaping up to be a big year for FOS. As we move into 2014 our focus remains on reducing our backlogs and improving the time taken to deal with new disputes, and we continue to make changes to our dispute process...READ MORE


The FOS Approach

The FOS Approach to the 2013 Code of Banking Practice

We publish the FOS Approach to help make it as easy as possible for everyone to understand how we consider disputes about particular issues. This includes the different elements we will consider and the relevant Codes, legal principles, obligations and industry best practice th...READ MORE

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FOS Forum

Key Determinations

In July 2013, we issued a Determination regarding an insurance claim under a home insurance policy held by the applicant and her former husband (WB). The claim arose when WB set fire to the home and totally destroyed the building and contents. The financial services provider (F...READ MORE

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FOS News

Upcoming events

We organise or attend hundreds of events every year. Over the next few months we will be in Sydney and Melbourne running various sessions for our members, and providing webinars for our ILIS and Banking & Finance members. Please visit our online events calendar regularly, where...READ MORE

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Reaching resolutions sooner - an update on Project 500

As we set out in our Business Plan for 2013-2014, we are committed to delivering a more efficient and effective dispute resolution service. In our last edition of The Circular we gave an update on Project 500, a pilot that we launched in August 2013 to deal with the large numbe...READ MORE

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Efficient and effective communication

We are committed to making our work efficient and effective, and that includes ensuring all our communications are effective and easily understood. In particular, we want to make sure that our decision documents are able to be understood by everyone involved in a dispute, so we...READ MORE

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An update from the Code team

The Code Compliance and Monitoring team is a separate business unit of FOS. Our purpose is to assist the independent administration and monitoring of compliance with industry Codes of Practice in the financial services sector. We assist in monitoring the Code of Banking Practic...READ MORE

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Under the spotlight - Anna Mandoki

Heading up FOS's financial difficulty Case Management team takes intellectual horsepower but also requires compassion, a calm approach and a genuine interest in people's lives. Anna Mandoki, FOS's Manager ā€“ Financial Difficulty, has all of these things, as well as a fascinating...READ MORE

Anna Mandoki
Postcard from... Melbourne

Jillian Williams is the Director of Legal Practice at Melbourne's Consumer Action Law Centre, and a member of the FOS Consumer Liaison Group. We spoke with Jillian about her work and the kinds of issues the Centre is seeing at the moment. How long have you been in your role? Iā€™...READ MORE

Jillian Williams of Consumer Action Law Centre

Systemic Issues

Systemic issues update

This article summarises new systemic issues that we identified during the December quarter of 2013 and reported to the Australian Securities and Investments Commission (ASIC). It also provides an update on some current and recently resolved systemic issue investigations, a summ...READ MORE


Case Studies

Case Studies

This is a collection of case studies that have appeared elsewhere in this edition of the Circular. It includes the case studies from the FOS Approach document that demonstrates our approach to the 2013 Code of Banking Practice. You can read more about our approach to this and o...READ MORE

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Statistics report

We received 7,448 disputes from October - December 2013. This was a 10% decrease from the previous quarter and a 3% decrease from the same quarter last year. The reduction in credit, general insurance and payment systems disputes are the main factors involved in the lower numbe...READ MORE

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