Ombudsman's Foreword It has been another year of change and growth for the Scheme, with the broadening of our membership base to include non-banks. Considerable effort has been put into educating our new members about the practices and procedures of the office, as well as our approach to particular types of disputes. For the second year running, there has been a decline in the number of new telephone enquiries and written disputes received. Members are to be commended for this result because the downward trend in the need for consumers to use our services indicates a very marked improvement in members’ attitudes towards, and commitment to their own internal dispute resolution processes. Members’ efforts to resolve more complaints internally have resulted in a change to the profile of disputes received by the Scheme. Disputes are now far more complex, requiring more intervention by BFSO staff than in previous years. I expect the trend of a higher proportion of more complex cases will continue in the year ahead and I am confident we are well placed to meet the challenges this will present. Another factor that will impact upon the types of disputes we receive is the increase to the jurisdictional limit of the Scheme. The limit has been $150,000 since 1996, but following extensive consultation with industry and consumer groups, the BFSO Board approved an increase to $250,000 to take effect from 1 December 2004. A Stakeholder Survey carried out between August and October 2003 resulted in positive outcomes. Initiatives it has prompted include contributing regular articles to regional newspapers about issues in the financial services sector. As an organisation committed to continuous improvement, the Scheme is also currently undergoing an independent review of its operations and procedures. I await with interest the results of this review. I take this opportunity to thank our staff for another year of commitment and dedication. Without their considerable efforts, the Scheme would not have achieved such positive results. Colin Neave Ombudsman   Print Screen | BFSO Home