Updated: 16 April 2024

Updated: 2 April 2024

We previously advised that AFCA paused complaints about Union Standard International Group Pty Ltd (USG) because it had been placed in liquidation and was unable to pay its debts.

We have a further update now because we have assessed whether complaints about USG might be eligible for a claim under a new Compensation Scheme of Last Resort (CSLR) established by the Australian Government.

In June 2023, the Australian Government passed a law which says the new CSLR will be able to consider a claim for compensation if the consumer meets certain eligibility criteria.

AFCA reviewed complaints about USG and assessed they do not meet the eligibility requirements for the CSLR.

With the CSLR not available to USG complainants, and no prospect of compensation being paid by USG, AFCA is not authorised to continue considering these complaints, and these complaints will be closed.

We acknowledge USG complainants may be very disappointed by this outcome, after waiting patiently for further developments.

We have written to complainants explaining why we are unable to consider these cases.

Why we cannot consider USG complaints

AFCA assessed complaints against Union Standard International Group Pty Ltd (In Liquidation) are not eligible for the CSLR.

In June 2023, the Australian Government passed a law which says the new CSLR will be able to consider a claim for compensation if the consumer has received a favourable AFCA determination that the financial firm has not paid (for example, because it has gone into liquidation), and the financial service or product involved is one of those defined in the law.

Under the law, the CSLR is limited to complaints about:

  • providing financial product advice that is personal advice to retail clients
  • dealing in securities for retail clients
  • engaging in a credit activity within the meaning of the National Consumer Credit Protection Act 2009 (Cth).

In addition, on 31 January 2024, the Australian Government amended the conditions of the authorisation for AFCA to be Australia’s financial sector external dispute resolution scheme. This change means we cannot issue a decision (also known as a determination) in a complaint against a financial firm for certain financial services and credit activities if that firm:

  • would be unlikely to pay any compensation awarded; and
  • was not authorised (because of its licensing conditions) to provide the products or services within scope of the CSLR.

USG does not meet these licensing conditions, and AFCA is satisfied it would be unlikely to pay any compensation awarded.

We also note AFCA would not be able to resolve these complaints efficiently, effectively or fairly, as required under AFCA Rule A.2 and section 1051(4)(b) of Australia’s Corporations Act. 

Therefore, it is appropriate AFCA exercises its discretion under Rule C.2.1 to not consider these complaints.

Our decision to exclude USG complaints has not been made lightly. The types of complaint AFCA can consider are set out in our Rules. If you would like more information about our Rules, you can go here.

What happens next

As outlined in the letter sent to all USG complainants, AFCA provides a 30-day period during which complainants may object to a decision to exclude a complaint. Any objection must be supported by evidence as to why the exclusion should not apply.

The financial firm ceased membership of AFCA on 11 November 2021

On 11 November 2021, Union Standard International Group Pty Ltd was expelled from AFCA membership. 



金融机构: Union Standard International Group Pty Ltd(清算中)


我们之前曾告AFCA暂停受理对Union Standard International Group Pty Ltd(简称USG)的投诉,因为它正在清算之中,无法偿还欠债。

我们现在有了进一步消息,因为我们已研究对USG的投诉是否有资格在澳大利亚政府新推出的Compensation Scheme of Last Resort(最后求助赔偿计划,简称CSLR)下获得赔偿。







经研究AFCA确定对Union Standard International Group Pty Ltd(清算中)的投诉不符合CSLR的资格标准。



  • 向零散客户提供私人的金融产品咨询意见
  • 为零散客户从事证券交易
  • 从事2009年联邦全国消费者信贷保护法所指的信贷业务。


  • 如果金融机构似不可能支付任何判给的赔偿金额;以及
  • 如果金融机构无权(因其许可证条件)提供CSLR范围内的产品或服务。








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