Complaint schemes to stay apart

IFSA/financial-planning-association/financial-services-association/amp/money-management/life-insurance/

13 May 1999
| By Anonymous (not verified) |

The Investment & Financial Services Association (IFSA) has refuted claims that it is holding formal talks to merge its external complaints resolution scheme.

However, Money Management understands informal discussions have taken place be-tween IFSA and the Financial Planning Association canvassing that option.

IFSA says there are no formal discussions in regard to merging the Life Insur-ance Complaints Scheme (LICS) with the Financial Services Complaints Resolution Scheme.

IFSA says it remain

The Investment & Financial Services Association (IFSA) has refuted claims that it is holding formal talks to merge its external complaints resolution scheme.

However, Money Management understands informal discussions have taken place be-tween IFSA and the Financial Planning Association canvassing that option.

IFSA says there are no formal discussions in regard to merging the Life Insur-ance Complaints Scheme (LICS) with the Financial Services Complaints Resolution Scheme.

IFSA says it remains committed to working with LICS to ensure that the scheme will be approved (by ASIC's 1 November 1999 deadline) not only to handle life insurance and advice complaints, but also to deal with complaints from managed investment customers as required under the Managed Investments Act.

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