Wednesday September 12 2018
News Source: Global Exchanges
Focus: Trading Rules
Type: General
Country: Australia
The Australian Securities and Investments Commission (ASIC) has approved the Australian Financial Complaints Authority (AFCA) Complaint Resolution Scheme Rules and the Terms of Reference of the AFCA Independent Assessor (IA).
ASIC is required to approve material changes to the AFCA scheme under the Corporations Act, 2001. This is a key part of ASIC’s role in overseeing the operation of the new scheme.
It is a statutory requirement that financial firms including most credit representatives, that deal with retail clients must join the AFCA scheme by 21 September 2018.
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