Wednesday May 2 2018
News Source: Global Exchanges
Focus: Trading Rules
Type: General
Country: Australia
Link: https://bit.ly/2HIhJLh
On 2nd May 2018, the Australian Securities and Investments Commission welcomed the news that the Australian Financial Complaints Authority (AFCA) has been authorised to deal with market complaints.
This authorisation will grant AFCA the power to deal with complaints made about financial firms including banks, credit providers, insurance companies and brokers, financial advisers, managed investment schemes and superannuation trustees.
ASIC will oversee the operation of AFCA and receive reports on systemic issues and serious contraventions by financial firms.
ASIC has announced that it will release a public consultation in due course on the New AFCA Rules and the Interim AFCA funding model
The AFCA Rules will be subject to ASIC approval.
For additional information please click the link above.