FSCL members split on court bid
The external disputes resolution provider is engaged in a court battle with the Chief Ombudsman, who turned down its request to use the word "ombudsman" in its name, after competitor the Insurance and Savings Ombudsman became the Insurance and Financial Services Ombudsman.
FSCL has refused to say how it is funding its legal bid.
individual advisers pay $515 each per year to be a member of the scheme. Individual membership fees drop in bigger organisations. Fund managers pay up to about $2000, depending on their FUM.
Members of associations and dealer groups pay $310.
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