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FSCL welcomes new industry director Gary Young

FSCL welcomes new industry director Gary Young

27 January 2014

Dispute resolution scheme Financial Service Complaints Limited (FSCL) has appointed Gary Young, CEO of the Insurance Brokers Association of New Zealand, to its Board.

FSCL Chairman Kenneth Johnston said Mr Young’s extensive and indepth industry knowledge would be a valuable addition to the Board.

“Mr Young will provide a strong industry voice in his role as industry director, and will bring insight that will add value to the services FSCL provides participants and their customers.”

Mr Young has been CEO of the Insurance Brokers Association of New Zealand since 2006. He has worked in the insurance industry for over 30 years, primarily in insurance broking in New Zealand and internationally. Since 2009 Mr Young has been a member of the Code Committee for Financial Advisers and is currently a Director of IBANZ College, an NZQA accredited financial services training organisation.

FSCL is one of the financial services industry’s largest dispute resolution schemes. The FSCL Board is made up of an independent Chair, two industry representatives (Roger Kerr and Gary Young) and two consumer representatives (Raewyn Fox and Bruce Cronin).

Background
FSCL is an independent not-for-profit external dispute resolution scheme approved by the Minister for Consumer Affairs under the Financial Service Providers (Registration and Dispute Resolution) Act 2008. It was the first scheme to be approved and has been designed for and in consultation with the financial services industry on the principles of efficiency and effectiveness. It is governed by an independent Board with equal consumer and industry representatives, and an independent Chair.

FSCL provides dispute resolution services to participating financial service providers and their clients. The FSCL process focuses on resolving complaints through conciliation and assisted negotiation and is also able to make formal determinations which are binding on financial service providers. The FSCL process is free to consumers. For more information on FSCL visit www.fscl.org.nz

The other dispute resolution schemes in the financial services industry are the Banking Ombudsman, the Insurance and Savings Ombudsman and the Government’s reserve scheme, Financial Disputes Resolution. For more information about the financial services disputes resolution regime visit www.consumeraffairs.govt.nz/for-consumers/how-to-complain/financial-service-providers-disputes-resolution

ENDS

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