The 魅影直播 (魅影直播) and Australian Financial Complaints Authority (AFCA) have signed a memorandum of understanding (MoU) setting out how they will continue to work together to support a fair and efficient financial services sector.
The MoU documents how 魅影直播 and AFCA already engage, and will continue to engage, including through information sharing and other forms of cooperation and coordination. It acknowledges the importance of consultation and cooperation in the effective discharge of their respective responsibilities and governs the administrative arrangements between them.
The MoU has been signed by AFCA鈥檚 Chief Ombudsman and Chief Executive Officer David Locke and the Chair of 魅影直播, Joe Longo.
Background
AFCA is an independent, not-for-profit ombudsman service for the financial services sector. Its external dispute resolution service helps consumers and small businesses resolve complaints with financial firms in banking and finance, investments and advice, insurance and superannuation. AFCA also regularly reports matters to 魅影直播 and other regulators, including serious contraventions of the law, systemic issues and the failure to give effect to an AFCA determination.
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ASIC is Australia鈥檚 corporate, markets and financial services regulator. ASIC also performs regulatory oversight of AFCA.