The portal is a platform for FMOS to connect with its Members by sharing important information and updates. This portal also serves as a central archive for general communication for easy access and reference.
You must direct your clients to FMOS for matters within its jurisdiction.
In your final decision letter, you must inform your clients that if they find the complaint outcome unsatisfactory, they may file a dispute with FMOS. A final decision by a Member must be issued in writing to the client through a letter or an email.
Your final response letter must include:
Please refer to FMOS’ Rules to learn more.
Members with physical premises must display the new FMOS brochures and posters in hard copy or digital format. For those without physical premises, the FMOS brochures and posters must be made available digitally on their website.
Please note that FMOS will not distribute printed copies to Members. Instead, multilingual digital and printable brochures are available on the FMOS website.
Members must also provide essential information about their complaint-handling access points at their premises, both physically and digitally. This includes details on complaint channels and processes, as well as the necessary steps consumers or investors should take if dissatisfied.
Additionally, Members are to take proactive measures to minimise technological, physical, or informational barriers that may hinder vulnerable consumers from accessing vital information about FMOS.
To maintain FMOS’ operations, FMOS may, subject to the Board’s discretion, collect the following fees from the Members:The Member shall pay the case fees of RM1,500 within 14 days upon registration of the dispute by FMOS. The fees are only applicable if the dispute falls within its jurisdiction.If the case proceeds to Adjudication, the Member shall pay a case fee of RM5,000 within 14 days of referring the dispute to the Ombudsman.Members shall remit payment to the FMOS’ current account. Once payment is made, kindly email the payment/remittance advice (with invoice no) for our record at finance@fmos.org.myUnder the revised levy structure, all Members are required to pay an annual levy based on their categories. The Regulators have communicated this to their respective Members.
Members licensed by BNM (Category 1) | Members licensed by SC (Category 2) | Eligible e-money and non-bank credit card issuers (Category 3) | All other Members (Category 4) | |
Category Definition |
1. Licensed banks and Islamic banks 2. Licensed insurers and takaful operators 3. Prescribed development financial institutions | Members that are licensed by SC with annual revenues of more than RM50mil | Members that are eligible e-money issuers and non-bank credit card issuers (annual revenues more than RM50mil) | Remaining members that do not fall under Categories 1 to 3 |
Annual Levy | RM66,000 | RM50,000 | RM15,000 | RM1,000 |
No. However, FMOS may exercise its discretion to accept a dispute that falls outside the time limit if you (the Member) do not object to FMOS accepting the dispute.
Or if exceptional circumstances warrant FMOS to accept such a complaint. These include, but are not limited to, situations where the client was certified by a registered medical practitioner as medically unfit at the material time.
Additionally, suppose the Member fails to inform the client of the deadline for filing a dispute at FMOS in their decision. In that case, the 6-month timeline will run from the date the Member’s subsequent written communication informs the client of such timeline.
Where the Member fails to inform the client of such timeline in any of its communications, the client's filing of the complaint at FMOS is not subject to deadlines.
FMOS accepts disputes related to direct financial losses that do not exceed RM250,000. However, if the disputed amount exceeds RM250,000, we will seek the Member's agreement before registering the case.
Subject to approval of a panel consisting of the CEO and two Ombudsmen, the assigned Case Manager may refuse to consider or dismiss a dispute if:
Please ensure that at least one of your representatives has full knowledge of the complaint, the evidence (documentary or otherwise) and has the authority/mandate to negotiate and agree on the terms of settlement and enter into a settlement agreement on your behalf when they participate in FMOS’ dispute resolution process.
Suppose the claim/complaint is directed at any of your staff, representative, or agent. In that case, they should be present at the dispute resolution process to clarify the issues.
To ensure fairness to both parties, the member’s legal counsel is not allowed to attend the process since the complainant is unrepresented.
