Under the Corporations Act, if you are an AFS licensee, you must have a dispute resolution system available for your retail clients that meets certain requirements.
This dispute resolution system must consist of IDR procedures that comply with the standards and requirements made or approved by ASIC and cover complaints made by retail clients in relation to the financial services provided. In addition, an AFSL or ACL must maintain membership of AFCA, the external dispute resolution (EDR) scheme for financial complaints in Australia.
Traversing the battlefield of complaints can be a painful and time-consuming process. We have had years of experience in producing responses to complaints for Internal and External Dispute Resolution. We are available to assist to draft, review or represent you in dispute resolution.