Complaint handling process
 

The are a number of stages in the process of complaint handling.





















Before making a complaint to CIO



  • Before making a complaint to us, the consumer should first give the financial services provider (FSP) an opportunity to resolve the complaint.
     
  • The consumer should contact the person they originally dealt with or the FSP’s customer complaints area to discuss their complaint.
     
  • If the complaint remains unresolved, or if the FSP does not respond, the consumer can lodge their complaint with CIO.

Validation

  • Within 48 hours, most complaints will be registered into our complaints handling database. Notices are sent to the FSP and consumer confirming receipt of the complaint.
     
  • The FSP has 7 days to provide us with a copy of its IDR response. The FSP can also use this time to try to resolve the complaint before we progress it.
     
  • If the complaint is not resolved, or if the information received does not indicate that the complaint should be closed under our Rules, the complaint will be moved to the Initial Review stage.
     
  • For complaints where the consumer is seeking less than $3,000 or the complaint is about a credit listing or enquiry, we may decide to deal with the complaint using our Expedited Process. If so, the complaint will not be moved to the Initial Review stage.


Initial review

  • The Initial review stage is CIO’s first round of information gathering.
     
  • Our first step is to obtain information from the FSP. The information request will be relevant to the consumer’s claims and any information already received from either party (such as the FSP’s IDR response).
     
  • Any subsequent response received from the FSP will be referred to the consumer to give them an opportunity to reply. Further information may also be requested from the consumer.
     
  • After this first round of information gathering, if the complaint is not resolved, or if the information received does not indicate that the complaint should be closed under our Rules,the complaint will be moved to the Investigation stage.


Investigation


  • The Investigation stage is CIO’s final round of information gathering, where more detailed information may be requested from, or targeted questions can be asked of, both parties.
     
  • CIO may give a preliminary assessment to assist negotiations.
     
  • If the complaint cannot be resolved,based on the information we have we will either issue a Recommendation on how the complaint should be resolved,or close the complaint if it is not one that we can continue to deal with under our Rules.
     
  • If the parties do not accept the Recommendation, then the complaint will be moved to the Determination stage.

Determination 

  • The Ombudsman will issue a Determination that sets out how the complaint should be resolved.

  • If the consumer does not accept the Determination, the complaint is closed and the consumer is free to pursue their 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.

Related pages: Search contact details for a financial services providerMaking a complaint