AFCA updates progress on Independent Review
The Australian Financial Complaints Authority (AFCA) has launched a new webpage providing information on its response to last year’s Independent Review.
The dispute resolution body has started work on nine of the 14 review recommendations, including the new AFCA funding model, modernising technology to enhance timeliness, efficiency, and transparency, and completing a significant component of its fairness jurisdiction project.
AFCA says it will address all 14 recommendations through a three-year program of work, which includes existing projects as well as new initiatives.
The program includes consultation with members, consumers and other stakeholders on new initiatives, processes, and approaches.
AFCA says its new Independent Review page will be regularly updated with the latest information on AFCA initiatives, their progress, and how they address the review recommendations.