Year published
Increase in imposter bond scams
26 February 2021
From 1 January 2021, all registered DAAs must be AFCA members in accordance with the Bankruptcy (Registered Debt Agreement Administrator Conditions) Determination 2020.
AFCA Rules change: authorised representatives
26 February 2021
AFCA has amended its Rules to provide clarity for consumers and financial firms regarding AFCA’s jurisdiction to receive complaints about the conduct of an authorised representative of an AFCA member.
AFCA Independent Review
26 February 2021
The Federal Government has announced an independent review of AFCA, following our first two years of operations. AFCA Chief Ombudsman and CEO David Locke said: “We are proud of all that AFCA has achieved in the space of two years. AFCA welcomes the opportunity to make a submission and put forward our views of how external dispute resolution for the financial services industry can be further improved."
AFCA Datacube update
26 February 2021
AFCA will update its online comparative reporting tool, the AFCA Datacube, on March 11. The update will include information about financial complaints lodged with AFCA from 1 July 2020 to 31 December 2020.
AFCA complaint monetary limits updated
06 January 2021
The Australian Financial Complaints Authority (AFCA) has adjusted its monetary limits for complaints.
MCR Partners Update
04 January 2021
From 26 June 2020, AFCA determined to cease dealing with MCR Partners for a 15-month period as a result of MCR's conduct. MCR challenged that decision in court.
Debt agreement administrators (DAAs) to be AFCA members by 1 January 2021
18 December 2020
AFCA member forums
19 November 2020
AFCA is pleased to invite you to a two-day virtual forum featuring industry-specific information, complaint trends and insights for AFCA members.
Six-month temporary time extension to cease on 1 November
16 October 2020
The Australian Financial Complaints Authority (AFCA) is reminding firms that on 1 November 2020, the six-month temporary time extension for firms to provide responses to financial difficulty complaints and complaints that have already been through internal dispute resolution will come to an end.
