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Chief Ombudsman's Message

Welcome to the first issue of The Circular for 2012.


The year began with an expansion of FOS’s jurisdiction. As of 1 January 2012, we can handle disputes about traditional trustee company services (TTCS), such as estate planning and management. An article in the previous issue of The Circular explained the basics of our approach to TTCS disputes.


Our Terms of Reference and Operational Guidelines have been significantly revised to reflect this change to our jurisdiction. The revised versions of these documents, as well as summaries of the amendments to them, are on our website.


The FOS 2012-13 electronic Annual Assessment to calculate members’ base levies will be going out to our members in mid March. This year the Annual Assessment will be conducted through the FOS Secure Services Site.


It is important that our members’ contact details are up to date and that their Finance contacts are registered for Secure Services before being sent the request to complete the assessment. Contact details can be updated via the ‘Manage Contact Details’ application in Secure Services. The Secure Services Update in this issue of The Circular explains how to register.


This issue also includes an in-depth article about the ePayments Code released by ASIC in September last year. We explain how the ePayments Code differs from the Electronic Funds Transfer Code of Conduct and how we will approach electronic payment system disputes after the ePayments Code comes into force.


You have a chance in this issue to have your say on the proposed topics for the breakout sessions at our 2012 National Conference. We want the conference to be an integral part of your professional development for the year, so we’re keen to find out what you think. Please help us out by doing the short survey.




Shane Tregillis