Cases


The Credit and Investments Ombudsman seeks to resolve each individual case through the four stage complaint process - Registration, Initial Review, Investigation and Determination. This section provides detailed case study examples and actual determinations dealt with by CIO. Click on the individual case links for additional information about specific case study examples and determinations.

Case Studies

For detailed explanations of general cases dealt with by CIO, please refer to the case study examples within this section, which detail particular scenario complaints provided to CIO, and the relevant laws and rules administered by the Ombudsman to determine his ruling, whether in favour of the complainant or financial services provider. 

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Decisions

We publish our decisions to provide guidance to financial services providers and consumers as to how we approach particular issues and reach decisions. It should not be cited or relied on as a precedent as we consider each complaint on its own merits.

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About Ombudsman Determinations

Where the complaint is not able to be resolved by non-adjudicative means, the Ombudsman can make a Determination which is binding on the financial services provider (FSP) but only if the consumer accepts the Determination in full and final settlement of the complaint. The Determination includes the Ombudsman’s reasons for making the Determination and is published on CIO’s website.

At this stage, the Ombudsman issues a Determination. The consumer has 28 days to accept or reject the Ombudsman’s Determination. If the consumer does not accept the Determination, the complaint is closed but the complainant is free to pursue the complaint elsewhere. If the consumer accepts the Determination, the member is bound by it. Once the FSP has given effect to the Determination, the complaint is closed.

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Determinations

Where the complaint is not able to be resolved by non-adjudicative means, the Ombudsman can make a Determination which is binding on the financial services provider (FSP) but only if the consumer accepts the Determination in full and the final settlement of the complaint. The Determination includes the Ombudsman’s reasons for making the Determination and it is published on CIO’s website.

The consumer has 28 days to accept or reject the Ombudsman’s Determination. If the consumer does not accept the Determination, the complaint is closed but the consumer is free to pursue the complaint elsewhere. If the consumer accepts the Determination, the FSP is bound by it. Once the FSP has given effect to the Determination, the complaint is closed.

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Systemic Issues and Serious Misconduct

Our role as a dispute resolution scheme approved by the Australian Securities and Investments Commission (ASIC) and recognised by the Office of the Australian Information Commissioner (OAIC) involves reporting systemic issues and serious misconduct which we identify when investigating complaints. 

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