Financial Services Complaints Ltd

Office address: Level 4, 101 Lambton Quay, Wellington 6011
Website: fscl.org.nz
Year established: 2010
Company type: external dispute resolution (EDR)
Employees: 16+
Expertise: dispute resolution, insurance complaints, lending disputes, investment complaints, financial advice disputes, superannuation issues, debt collection disputes, credit provider complaints, broker group disputes
Parent company: N/A
Key people: Susan Taylor (CEO); Kylie Stratton (acting team leader); Chantelle van Staden, Meryn Gates, Rhonda Singleton and Dominique Bray (managers); Harry Trainor (early assistance officer)
Financing status: N/A

Financial Services Complaints Ltd (FSCL) is a not-for-profit organisation in Wellington that resolves disputes between consumers and financial service providers. FSCL provides a free and fair complaints process, funded by financial firms. It is approved by the Minister for Consumer Affairs and overseen by an independent board.

History of Financial Services Complaints Ltd

FSCL was established in 2010 after approval under New Zealand’s Financial Service Providers Act. By 2011, the organisation began resolving disputes between consumers and financial service providers, operating as an independent and not-for-profit scheme. The service is free for consumers and funded by industry participants.

Reviews and recognition

Financial Services Complaints Ltd has been subject to independent reviews every five years, with the first in 2015 and the second in 2020. In 2022, it received approval to use the Ombudsman title, following a legal process that increased its visibility and led to more complaints.

FSCL’s growth and impact

Financial Services Complaints Ltd updated its Terms of Participation in 2020 and introduced a policy for reporting systemic issues in 2021. In 2024, FSCL and the Insurance and Financial Services Ombudsman explored a merger, though discussions were later paused. The organisation continued to release new guides and resources, and completed its third independent review in 2025.

FSCL products and services

Financial Services Complaints Ltd provides a way for people to resolve issues with financial service providers at no cost. The organisation operates independently and offers several key services:

• dispute resolution service: formal process to investigate and resolve complaints between consumers and financial firms
• complaint lodgement platform: options to submit complaints online, by phone, email or post
• guidance and support: step-by-step help for consumers and providers through the complaint process
• case studies and guides: published resources showing real complaint outcomes and process explanations
• industry education: training and updates for financial service providers on complaint handling and regulations

FSCL covers complaints related to loans, credit, insurance, investments, money transfers, KiwiSaver and financial advice. Its services are designed to help both consumers and industry participants address a wide range of financial disputes.

Company culture and values

The Financial Services Complaints Ltd Board requires the scheme to meet six statutory principles. These principles guide how FSCL operates and are used as benchmarks in independent reviews:

1. accessibility: FSCL is easy to reach, free to use and supports diverse consumer needs
2. fairness: decisions follow clear, fair steps and give both parties a chance to respond
3. effectiveness: FSCL reviews its work, resolves issues quickly and reports systemic problems
4. independence: decisions and operations are separate from financial service providers
5. efficiency: complaints are tracked with set timeframes and regular follow-ups for progress
6. accountability: FSCL publishes reports and updates, sharing trends and performance with the public

These principles ensure that Financial Services Complaints Ltd operates in a fair, transparent way and in line with legal and industry standards. Each principle is reviewed and measured to maintain trust and quality in the scheme’s work.

About CEO Susan Taylor and key people

Susan Taylor is the financial ombudsman and CEO at FSCL, leading the organisation and overseeing complaint investigations. Before this, she was deputy banking ombudsman and has more than 20 years’ experience in financial dispute resolution. Taylor is also a qualified lawyer and a member of the Australian and New Zealand Ombudsman Association (ANZOA).

The key staff at Financial Services Complaints Ltd bring a range of skills and experience to their roles:

• Kylie Stratton is acting case management team leader, leading the case management team and supporting staff with complex files
• Chantelle van Staden works as case manager, handling complaints and guiding people through the dispute process
• Meryn Gates is case and early assistance manager, overseeing early complaint resolution and team training
• Harry Trainor is early assistance officer, helping resolve issues quickly before formal investigation
• Rhonda Singleton manages administration and finance, ensuring smooth office operations and financial processes
• Dominique Bray leads as communications manager, handling FSCL’s media, website and public engagement

The team at Financial Services Complaints Ltd is made up of professionals with experience in law, finance and customer service. Their combined skills help FSCL deliver a fair and efficient complaints process.

The future at Financial Services Complaints Ltd

FSCL was mentioned in the 2024 Credit Contracts and Consumer Finance Act (CCCFA) reforms for its proposed merger with the Insurance & Financial Services Ombudsman Scheme. The merger did not proceed, but FSCL’s role showed its importance in making dispute resolution easier as lending rules changed.

Financial Services Complaints Ltd also upholds its role by resolving disputes between clients and mortgage advisers. This is shown in a case where a couple missed out on a low interest rate due to an adviser’s error. FSCL ensured the couple received fair compensation after the mistake led to financial loss. Handling cases like this supports trust in mortgage advice and helps protect future clients.