As at 1 November 2018, AFCA is open for business. This means that all Licensees need to take a number of actions to comply with the changes from FOS, the CIO or SCT:
Licensee must update their membership details with ASIC by 30 November 2018. If you have not already done so, please see ASIC’s update here.
Any references on website, brochures, etc to your old scheme must be updated to refer to AFCA.
All complaints responses must now include the referral to the AFCA as escalation option if a client is not satisfied with the response.
By 1 July 2019, disclosure documents such as the FSG and PDS must be updated with the AFCA details.
If you have any questions or require any assistance, please feel free to contact me.