As an approved scheme under the Financial Service Providers (Registration and Dispute Resolution) Act 2008 (the Act), the Banking Ombudsman Scheme (BOS) is required to commission an independent review and provide a report to the Minister of Commerce and Consumer Affairs.  Our participation agreement also requires such a review.

Deborah Hart has completed her independent review of the Banking Ombudsman Scheme. 

A copy of the report can be viewed here, along with the BOS preliminary response to the recommendations.

The independent review’s report made eleven recommendations. Four, if implemented, would require changes to the scheme’s terms of reference (“rules”). The scheme would like your views on the proposed changes to the scheme rules. The deadline for comment is 13 December 2024.

As an approved scheme under the Financial Service Providers (Registration and Dispute Resolution) Act 2008 (the Act), the Banking Ombudsman Scheme (BOS) is required to commission an independent review and provide a report to the Minister of Commerce and Consumer Affairs.  Our participation agreement also requires such a review.

Deborah Hart has completed her independent review of the Banking Ombudsman Scheme. 

A copy of the report can be viewed here, along with the BOS preliminary response to the recommendations.

In May 2014, the Banking Ombudsman Scheme commissioned CameronRalph Navigator to complete an assessment of the scheme's operations. The purpose of the review was to identify if improvements can be made to the scheme to assist its aim of being a world-class Ombudsman service, universally valued and trusted for its independence and fairness.

The fifth process review of the Banking Ombudsman Scheme was undertaken by Chapman Tripp. The purpose of this review was to ensure that the Office of the Banking Ombudsman is operating in accordance with its terms of reference and, in particular, the principles of natural justice and effective dispute resolution.

This review, on the effectiveness of the Banking Ombudsman Scheme, was undertaken by the Retirement Commission.

The fourth process review of the Banking Ombudsman Scheme was completed by Minter Ellison Rudd Watts. The criteria and scope was the same as for previous reviews.

This comprehensive independent review of the Banking Ombudsman Scheme was undertaken by Judge Anand Satyanand at the request of the Banking Ombudsman.