New versions of AFCA’s Rules and Operational Guidelines will be published on 1 July 2024, which will apply to all complaints lodged on or after this date. The new changes will:

• Increase AFCA’s ability to manage unreasonable or inappropriate conduct within the scheme from complainants and paid representatives
• Deal with complaints where an appropriate settlement has been made or where issues in dispute have been previously settled
• Provide further guidance and clarity on the exclusion of complaints lodged by professionals or sophisticated investors unless exceptions apply
• Enhance the visibility, accessibility and performance of the Forward-Looking Review Mechanism
• Ensure greater transparency and understanding of AFCA’s decision making, including how the slip rule works and clarification of effects of AFCA determination
• Make minor changes to definitions and language to update certain areas of the Rules arising from legislative change, which will give greater clarity and transparency of the scheme’s operation overall, and
• Make minor changes to clarify reporting and transparency obligations.

These changes were developed in response to recommendations made in Treasury's Independent Review of AFCA – with some additional changes to help ensure the Rules and Operational Guidelines remain accurate, up-to-date and provide clearer guidance about AFCA’s jurisdiction and processes.

More information will be available on our website before the new Rules and Operational Guidelines come into effect on 1 July 2024.