The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry delivered its final report on 1 February. AFCA welcomed the recommendations made by Commissioner Hayne as well as the Government’s acceptance of its recommendations. AFCA stands firmly on the side of fairness and we believe these recommendations are critical to ensuring that customers and small businesses are treated fairly.
The Australian government has setup a fund to pay consumers and small businesses who had determinations from the Financial Ombudsman Service(FOS) and Credit and Investments Ombudsman (CIO) but never received payment.
If you were awarded a determination by FOS or CIO that was not paid,you may be eligible to receive payment under this fund
Media releases related to the Royal Commission:
- AFCA welcomes ASIC approval for legacy complaints
18 June 2019
- Financial firms required by law to co-operate with AFCA
6 April 2019
- Consultation now open on AFCA Rules changes
18 March 2019
- AFCA to accept legacy financial complaints from 1 July 2019
20 February 2019
- AFCA's statement on the Royal Commission's Final Report
4 February 2019