The Financial Ombudsman Service (FOS) says 194 consumers are still waiting for compensation worth $12.61 million, plus interest.

Since January 2010, 32 financial services providers have been “unwilling or unable” to comply with 137 determinations, it says.

One new financial services provider was added to the list in the last quarter, but two others complied in full.

“Only a very small percentage of all FOS members are involved, and these figures represent only a small proportion of all the awards we issue across all our jurisdictions in banking, insurance, life insurance and investments,” the service says.

“However, despite the small number of [providers] involved, unpaid determinations represent 19.6% of all accepted determinations issued in favour of consumers in the investments and advice area.”

FOS says 56% of non-compliance relates to “disputes in the financial planning and advisory sector”.