Malaysia has streamlined financial dispute resolution with the launch of the Financial Markets Ombudsman Service (FMOS), a centralized platform offering free mediation and adjudication for consumers and investors. The new service, jointly overseen by Bank Negara Malaysia and the Securities Commission Malaysia, aims to boost consumer confidence and improve efficiency in resolving financial disputes.
23 January 2025 – Malaysia took a significant step towards enhancing consumer protection in the financial sector with the launch of the Financial Markets Ombudsman Service (FMOS) on January 17, 2025. This new entity serves as a single point of contact for consumers and investors seeking to resolve disputes with financial institutions and capital market service providers.
FMOS is a merger of the Ombudsman for Financial Services (OFS) and the Securities Industry Dispute Resolution Center (SIDREC), bringing together their expertise and resources under a unified framework. The joint oversight by Bank Negara Malaysia (BNM) and the Securities Commission Malaysia (SC) ensures alignment with regulatory standards and strengthens the protection of consumer interests.
“The establishment of FMOS reflects the ongoing commitment of Bank Negara Malaysia and the Securities Commission to enhance the efficiency and effectiveness of dispute resolution services,” said Bank Negara Malaysia Governor Dato’ Seri Abdul Rasheed Ghaffour. “This initiative not only strengthens consumer confidence but also reinforces the integrity and accountability of financial and capital market service providers.”

FMOS offers independent and impartial mediation and adjudication services, providing an alternative to lengthy and costly court proceedings. The streamlined process promises quicker and more transparent resolutions for consumers and investors.
Recognizing the increasing value of financial transactions, BNM has raised the monetary limit for eligible disputes involving financial accounts or transactions to RM250,000. This change aligns with the existing limit for investment-related disputes and ensures that a wider range of consumers can access FMOS’s free services.
“FMOS simplifies the resolution process for financial consumers and investors by providing a trusted one-stop platform,” stated Securities Commission Malaysia Chairman Dato’ Mohammad Faiz Azmi. “This is especially important as the lines between financial and capital markets blur. FMOS also promotes consistent standards and decisions, strengthening trust in the system.”
The launch of FMOS marks a significant advancement in consumer protection within Malaysia’s financial landscape, promoting greater transparency, accountability, and accessibility to justice.