Further changes to financial services red tape are on the way, with the publication of the Supplementary Final Report to the "Review of the financial system external dispute resolution and complaints framework," chaired by Professor Ian Ramsay. However, many long-awaited changes, such as compensation scheme will be on ice until after the Banking Royal Commission has concluded.The initial Ramsay Review was released in April this year.The Turnbull Government then extended the terms of reference for the Ramsay Review to require the panel to make recommendations on the establishment, merits and potential design of a compensation scheme of last resort and the merits and issues involved in providing access to redress for past disputes in the financial sector."This [supplementary] report makes four recommendations on the establishment of a limited and carefully targeted compensation scheme of last resort to cover future unpaid compensation in parts of the financial services sector where there is evidence of a significant problem of compensation not being paid," said  Kelly O'Dwyer, Minister for Revenue and Financial Services.The report also makes six observations on the merits of access to redress for past disputes.Nevertheless, Raj Venga, chief executive officer and Credit and Investments Ombudsman, has taken issue with the timing, if not the content, of the new report."Now that a Royal Commission has been commissioned (something CIO supports), it makes little sense for the Government to implement AFCA without the benefit of the findings and recommendations of the Royal Commission," Venga said, citing the Minister's own media release today: "… This means that the Royal Commission will not impact on the establishment of AFCA or other important policy initiatives, such as the new Banking Executive Accountability Regime and significant reforms to bolster whistleblower protection regimes.  "However, the Royal Commission will examine many of the issues that have been considered as part of the supplementary Ramsay report and as a result, the Government will defer its consideration of, and response to, the Report until the Royal Commission has concluded," he said."Why would you not also defer consideration of AFCA, particularly since dispute resolution is a specific term of the Royal Commission's terms of Reference?" Venga asked.However, O'Dwyer's comment indicates the roll-up of all current dispute resolution office into the AFCA is inevitable: "While the Royal Commission will have sweeping powers to look into these important matters, we have also ensured that it will not defer, delay or limit any proposed or announced policy, legislation or regulation that is currently being implemented."