You can read our latest news and updates in this section.
Notice of Members' Forum and Annual General Meeting 2026
The Members’ Forum and Annual General Meeting of the Financial Dispute Resolution Service (FDRS) will be held at 3.30pm on Tuesday 27 October.
Increased compensation limits for financial disputes
Financial limits for complaints are being raised across the four approved financial dispute resolution schemes, from 18 July 2024, meaning more consumers can have their disputes resolved without going to court.
Where to from here?
The licensing and attendant legal regime is now in full force for those offering regulated financial advice in NZ. But now that all measures are in place (CoFI excepted), what’s next and where do we go from here?
Lessons for insurers, brokers and insured
FDRS has recently seen several complex finance and insurance cases with similar themes. In this article, we share a sample case study based on these combined cases so that no party or case can be identified, followed by a discussion of the outcomes and themes.
Updated scheme rules
We are pleased to advise Scheme members and consumers that updated FDRS Scheme Rules are in effect from 1 November 2021.
Due Diligence guidance for consumer credit providers
The Commerce Commission has released new due diligence guidance for consumer credit providers.
From 1 October 2021, directors and senior managers of consumer credit providers, including mobile traders selling goods on credit, will need to exercise due diligence to ensure that the creditor complies with its duties and obligations under the Credit Contracts and Consumer Finance Act 2003 (CCCF Act).
Review of approved financial dispute resolution scheme rules
The Ministry of Business, Innovation and Employment (MBIE) is currently seeking submissions on the rules for approved dispute resolution schemes.
Commerce Commission – Fit and Proper Person Certification
From 1 October 2021 all consumer credit lenders and mobile traders must be certified as ‘fit and proper’ under the Credit Contracts and Consumer Finance Act 2003 (CCCF Act) by the Commerce Commission (the Commission).
Simon Roughton appointed to Financial Dispute Resolution Service's Advisory Council
Updated 8 July 2020
Financial Dispute Resolution Service has announced the appointment of Simon Roughton to its Advisory Council.
Simon fills the previously vacant Consumer Representative role.
Read full entry
Notice regarding Cryptopia
Friday May 17, 2019
On Wednesday 15 May we were notified by the Financial Service Provider Register that Cryptopia was being deregistered as a financial service provider.
FDRS appoints new council member
Monday December 10, 2018
Financial Dispute Resolution Service has announced the appointment of Ms. Toni Dodds to its Advisory Council.
The Advisory Council provides guidance and support to Financial Dispute Resolution Service. Financial Dispute Resolution Service is an approved dispute resolution scheme for financial service providers in New Zealand. The scheme is managed by FairWay Resolution Limited, New Zealand’s largest specialist conflict management and dispute resolution organisation who handle over 16,000 disputes, reviews and enquiries each year.
Top Tips for Resolving Complaints
Thursday June 28, 2018
Written by Trevor Slater, Client Director
Complaints can happen anywhere, anytime, especially so in the financial industry where we deal with peoples’ finances and futures. If there is one thing you can guarantee someone will complain about, it’s anything money related.
That is why it is so important that financial providers are prepared and have a good internal complaints process in place. Being able to reach an early resolution is very important as it saves you time, money and stress as well as protecting your reputation and client relationships.
Territorial scope of FSP ACT translates into customer complaints
Financial Dispute Resolution Service, an approved dispute resolution scheme working with members across all financial services, has seen issues in the financial service sector translate into consumer complaints.
The scheme’s Annual Report identifies the territorial scope of the Financial Service Provider Act as a big issue for the financial services industry.
Trevor Slater, Client Director of Financial Dispute Resolution Service, explains how this issue affects the financial sector.
Business decisions can run afoul of the Responsible Lending Code
Wed July 06, 2016
An article written by Jennifer Mahony
The Houston Chronicle reported on 1 June 2016 that Uber was offering leases on new cars as an incentive for new contract drivers. The car lease fee is deducted weekly from the driver’s earnings, regardless of how much—or how little—they earn that week. If they fail to make a payment, Xchange repossesses the car. One could argue that Uber is simply removing a barrier for those who wish to drive for them, and in doing so, is making it easy for the driver to meet lease obligations and for Uber to protect its investment. However, there are a number of issues with this arrangement.
Putting aside the potential employment issues, two other potential issues arise...