Call for one dispute scheme
In its submission to the Financial Advisers Act review issues paper, the insurer said that would increase the disputes experience and expertise within the scheme and increase the consistency of decisions across all disputes.
“Alternatively, if there are to remain multiple bodies, there should be robust guidelines to ensure consistent outcomes for consumers and jurisdictional limits should be regulated accordingly.”
The Financial Advisers Act issues paper suggests that a goal for disputes resolution schemes should be that consumers are aware of, can access, and are confident in using dispute resolution schemes.
Partners chief executive Naomi Ballantyne said there should be another goal: To ensure that no matter which scheme a financial service provider chose, the consumer obtained a consistent and fair outcome.
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