Consumer Financial Dispute Resolution in a Comparative Context : Principles, Systems and Practice.

Cover; Consumer Financial Dispute Resolution in a Comparative Context; Title; Copyright; Dedication; Contents; Figures; Tables; Acknowledgements; Introduction; A financial crisis with global proportions; Viewing consumer financial dispute resolution in a theoretical context; Overview of methodology; Structure of the book; Part I Principles; 1 Principles of consumer financial dispute resolution in a global context; Introduction; Theoretical perspectives on the impact of globalisation on international legal practice; Principles of consumer financial dispute resolution.

Equator principles -- the need for 'adequate grievance mechanisms'UN guidelines for consumer protection; Basel Accords: transparent risk disclosure and risk minimisation; Global deliberation; UN millennium development goals -- objective 8a: to develop an open, rule-based trading system; Rule of law principles: impartiality, fairness, transparency and consistency; Summary; Part II Ombuds systems; 2 Financial dispute resolution in the United Kingdom; Introduction; Ombudsmen in the United Kingdom; Alternative dispute resolution in the United Kingdom.

The Financial Ombudsman Service and the Financial Services and Markets ActThe Financial Services Compensation Scheme; A period of transition; Financial alternative dispute resolution programmes; Financial Ombudsman Service Limited; Range of disputes; Structure; Underlying legal mandate; Determining jurisdiction; Compulsory jurisdiction; Consumer credit jurisdiction; Voluntary jurisdiction; Procedures of the Financial Ombudsman Service; Awards; Terms of reference for voluntary jurisdiction participants; Statistics; Service providers; Oversight; Strengths; Multi-tiered dispute resolution.

Dealing with cases of wider implicationBenefits of merging schemes; Advantages over litigation; Expectation management; Challenges; Integration of the Pensions Ombudsman; The Hunt Review; A quasi-regulatory role?; Financial Services Act 2010; Class actions or mass claims; Abolition of FSA; Lessons learned; The OXERA review; The need for hearing; Conclusion: the UK Ombuds Model and its contribution to consumer confidence; 3 Financial dispute resolution in Australia; Introduction; Ombudsmen in Australia; Alternative dispute resolution in Australia; Ombudsmen for financial service providers.

The Financial Ombudsman ServiceThe Predecessor Schemes; Transitional arrangements; Expanded jurisdiction?; The Credit Ombudsman Service Limited -- a competing scheme?; Statutory Tribunal; Financial alternative dispute resolution programmes; The Financial Ombudsman Service; Range of disputes; Structure; The Credit Ombudsman Service Limited; Range of disputes; Structure; Underlying legal mandate; Types of dispute; FOS procedure; Jurisdiction; Resolution; FOS statistics; COSL procedure; Jurisdiction; Resolution; COSL statistics; Service providers; Oversight; Strengths; FOS: rationale for merger.

COSL: competing with FOS?

Shahla Ali presents comparative empirical research about the design of consumer financial dispute resolution mechanisms in Asia, America and Europe.

Includes bibliographical references and index.

Print version record.

English.

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