Rules amendment consultation May 2019

AFCA is committed to being open, transparent and accountable to the public. As part of our new transparency measures, AFCA has proposed to identify financial firms in our published decisions.

We have drafted changes to Rule A.14.5 that will enable us to identify financial firms in published determinations. This will apply to determinations issued after the changes take effect, subject to the changes being approved by ASIC.

Consultation on Rules amendments

Consultation on the Rules amendments closed on Thursday 20 June 2019. Feedback was sought based on the following consultation documents.

 

Submissions received during the consultation period are published below. The feedback received will be considered and any appropriate changes made, before any proposed amendments to the Rules are provided to ASIC for review and approval. We will update further on this proposed Rules change.

 

 

Submissions

Please note: If a submission was marked confidential it will not be published below. If a submission contained specific complaint details or personal contact details they have been redacted for privacy reasons.

AHL Investments

Australian Banking Association

Australian Collectors and Debt Buyers Association

Australian Finance Group

Australian Finance Industry Association

Australian Institute of Superannuation Trustees

Australian Retail Credit Association

Better Choice Home Loan

Commonwealth Bank of Australia

Consumer Action Law Centre

Consumer Credit Legal Service Western Australia

Customer Owned Banking Association

David Smith

Finance Brokers Association of Australia

Financial Planning Association of Australia

Financial Rights Legal Centre

Financial Services Council

Finsure Finance

Industry Super Australia

Legal Aid New South Wales

Legal Aid Queensland

Mortgage and Finance Association of Australia

Perpetual

Prospa Advance

Stockbrokers and Financial Advisers Association