The financial services industry is not successfully adjusting its own practices to challenges posed by the current financial crisis, according to a report.
The biannual review of the Financial Services Ombudsman, published yesterday, showed 3,780 complaints were received in the first six months of 2011, an increase of 5 per cent on the second half of 2010; 29 per cent were upheld or partly upheld.
Ombudsman William Prasifka described the recent complaints record of financial institutions as disappointing.
