- About this Annual Review
- Board Chair message
- Chief Executive Officer and Chief Ombudsman message
- About us
- Strategic plan
- Year in review – strategic initiatives
- Year at a glance
- Who complained to AFCA?
- Overview of complaints
- Open cases
- Complaints closed by AFCA
- Banking and finance complaints
- General insurance complaints
- Superannuation complaints
- Investments and advice complaints
- Life insurance complaints
- Financial difficulty complaints
- Small business complaints
- Complaints lodged by consumer advocates
- Legacy complaints
- Complaints outside the Rules
- Systemic issues
- Naming financial firms
- Significant events
- Stakeholder engagement
- People and culture
- Feedback about our service
- Independent Assessor Report
- Corporate information
- AFCA General Purpose Financial Report 2021
- Code compliance and monitoring
- Previous schemes
- Appendix 1
In 2019, following the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, the Commonwealth Government expanded AFCA’s jurisdiction to hear financial complaints related to conduct going back to 1 January 2008, outside the normal six-year rule that applied in AFCA.
AFCA was able to receive these ‘legacy’ complaints for a 12-month period that ended on 30 June 2020.
For the period of 1 July 2019 to 30 June 2020, AFCA received 1,917 total legacy complaints.
From 1 July 2020, AFCA could no longer receive new legacy complaints but could continue finalising complaints that were lodged during the legacy lodgment window.
Since the commencement of this jurisdiction, $28.6 million in compensation and refunds was awarded or obtained through AFCA’s legacy dispute resolution work, with $12.7million awarded in 2020–21.
AFCA continues to finalise complaints under our legacy jurisdiction, with 231 complaints open at the end of 2020–21.
Legacy complaints are complex due to the time that has passed from the date of the event that gave rise to the claim. This has placed challenges on consumers and financial firms to provide documentation and accurate recollections relevant to the complaint. Despite these challenges, AFCA has been successful in working with parties to reach outcomes for many legacy complaints, with only a small number remaining to be finalised.
Between 1 July 2020 and 30 June 2021
Stage at which legacy complaints closed
|Closed Rules Review||209|
|Closed Case Management||275|
|Closed Preliminary View||140|