In its response to the Royal Commission recommendations AFCA welcomes the Commissioner’s recommendation to amend Chapter 7 of the Corps Act to require AFSL holders to take reasonable steps to cooperate with AFCA in its resolution of complaints, by making available to AFCA all relevant documents and records relating to issues in dispute. This will enhance AFCA’s effectiveness as an independent EDR scheme for consumers and small business.
“AFCA is firmly on the side of fairness and we believe that ensuring fair outcomes for consumers is a critical first step to rebuilding trust and confidence in financial services.” CertFair endorses this view.
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