FSCL chairman Kenneth Johnston said the Board is delighted that Taylor has accepted the position.

"Taylor, who is a lawyer, has a wealth of experience in establishing a disputes resolution scheme, of alternative dispute resolution in general and of all forms of banking and finance complaints, and particularly those involving lending and credit, financial advice, and other financial services.

"She joined the Banking Ombudsman's office shortly after its inception and has played a large role in building the excellent reputation of the Banking Ombudsman scheme." Johnston said.

Taylor will take up her appointment in October this year.

"Taylor and FSCL's General Manager Trevor Slater have over 30 year's financial dispute resolution experience between them," Johnston said.

FSCL was the first dispute resolution scheme to be approved by the Minister of Consumer Affairs under the Financial Service Providers (Registration and Dispute Resolution) Act 2008.

The FSCL scheme is open to membership to all financial service providers required to be on the register for financial service providers opening early next month (August 2010). The services of FSCL are free to consumers; it has been established to provide independent dispute resolution to all financial service providers and consumers of their products and services. Its major focus is to help parties resolve their dispute by assisted negotiation and conciliation but, where necessary, a formal decision or determination can be made.