GPO Box 3 Melbourne VIC 3001
Consultation on the proposed AFCA funding model
To ensure adequate funding to effectively manage the transition from existing dispute resolution schemes and to manage its ongoing complaint resolution services, the Australian Financial Complaints Authority (AFCA) has developed a three-phase funding model approach, consisting of initial transition funding, an interim funding model, and a long-term funding model. AFCA is now consulting on the proposed funding model.
The focus of this consultation is on the transition and interim funding arrangements for AFCA. Consultation is being conducted with industry stakeholders, existing and potential AFCA members and industry associations. The AFCA funding consultation paper has been circulated to relevant industry stakeholders and is available on the member portal for existing AFCA members. An overview of the proposed funding model is provided below.
If you have any questions or requests for information about the consultation, please direct them to email@example.com or contact our membership team on 1300 565 562.
How to provide feedback
AFCA will consult for four weeks from 2 July 2018, during which time it invites individual written feedback on the proposed AFCA funding model.
If you would like to provide feedback, please email it to firstname.lastname@example.org by COB Friday 27 July 2018.
Requests for information and enquiries should also be directed to email@example.com or by contacting the Membership team on 1300 56 55 62.
Following the consultation, the AFCA Board will consider all feedback and make any appropriate changes to the proposed funding model. Confirmation of the final AFCA funding model will be released by early September 2018.
Once finalised, the funding model will cover funding of AFCA operations when it commences on 1 November 2018.