The Australian Financial Complaints Authority (AFCA) has updated its Operational Guidelines to reflect changes to how and when parties to a complaint can request an extension of time to resolve a complaint during the refer back period.
The new Operational Guidelines, as well as previous versions, can be read here. Please refer to section A.5 notifying the Financial Firm of the complaint to review the changes.
About AFCA’s Operational Guidelines
AFCA’s Operational Guidelines provide an overview of how AFCA operates to resolve complaints.
AFCA is governed by a set of Rules, which are approved by ASIC in accordance with the requirements of the Corporations Act 2001 and ASIC Regulatory Guide 267. These Rules are also explained in more detail in AFCA’s Operational Guidelines.
Published: 6 April 2022
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The Australian Financial Complaints Authority (AFCA) is a non-government ombudsman service providing free, fair and independent help with financial disputes. It is a one-stop-shop for consumers and small businesses who have a dispute with their financial firm, over things such as banking, credit, insurance, advice, investments or superannuation. Where an agreement cannot be reached between parties, AFCA can issue decisions that are binding on financial firms.