Acquirer(s)
- Banking and Financial Services Ombudsman Ltd
Target(s)
- The Insurance Ombudsman Service Ltd<br/> Financial Industry Complaints Service Limited
Summary
Proposal to merge the business operations of the Banking and Financial Services Ombudsman Ltd, the Insurance Ombudsman Service Ltd and the Financial Industry Complaints Service Limted (schemes).Market definition
The relevant market is the national market for the provision of dispute resolution services to financial service providers.Competition analysis
No competitive rivalry exists between the schemes. Each scheme requires regulatory approval, including in determining the scope of the services provided by each scheme. As the scope of each scheme and therefore its customer base is confined by regulatory structure, the ACCC found no actual or potential competition between the merging schemes.Timeline
| Date | Event |
|---|---|
ACCC commenced review under the Merger Review Process Guidelines. |
|
Closing date for submissions from interested parties. |
|
ACCC announced it would not oppose the proposed acquisition. |