On 9 May 2017 the Government accepted all 11 Recommendations of the Review of the financial system external dispute resolution and complaints framework (the Ramsay Review). These recommendations included the establishment of a one-stop shop for all financial disputes, the Australian Financial Complaints Authority (AFCA).
On 22 August 2017 the Hon Kelly O’Dwyer MP, Minister for Financial Services, announced the establishment of an expert reference panel to the assist the transition team to the one-stop-shop dispute resolution scheme, the AFCA.
The transition team, led by former Assistant Governor of the Reserve Bank of Australia Dr Malcolm Edey, was established by the Government to ensure a smooth transition to AFCA. This panel will provide expert knowledge and experience to assist the transition team.
Members of the expert reference panel are:
- Shane Tregillis, Chief Ombudsman, Financial Ombudsman Service;
- Helen Davis, Chair, Superannuation Complaints Tribunal;
- Robin Buckham, Director at Self Employed Australia (to represent small business); and
- John Berrill, Consumer Member, Superannuation Complaints Tribunal Advisory Council (to represent consumers).
In recognition that the AFCA will be an industry body, the Government has asked the transition team to consult extensively with stakeholders on issues around AFCA’s establishment in the coming weeks.
For further information
Refer to the Minister’s media release.
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