Report

Treasury Laws Amendment (Putting Consumers First—Establishment of the Australian Financial Complaints Authority) Bill 2017

17 October 2017

© Commonwealth of Australia 2017
ISBN 978-1-76010-670-6

View the report as a single document - (PDF 370KB)


View the report as separate downloadable parts:

Senate Economics Legislation Committee (PDF 21KB)
Chapter 1 - Introduction (PDF 63KB)

Conduct of the inquiry
Overview of the bill
Reviews and consultation
Current consumer complaint handling procedures
International comparisons
Findings of the Ramsay Review
Transition arrangements

Chapter 2 - Provisions of the bill (PDF 32KB)

Schedule 1—External dispute regulation
Division 1 of Part 7.10A—Authorisation of an external dispute resolution scheme
Division 2—Regulating the AFCA scheme
Division 3—Additional provisions relating to superannuation complaints
Other amendments relating to EDRs
Schedule 2—Internal dispute resolution
Starting date

Chapter 3 - Views on the bill (PDF 82KB)

Support for AFCA
The bill in the context of policy for the financial sector
Opposition to the amalgamation of the complaints bodies
What is not in the bill
Comments on measures in the bill
Analysis of effects of the measure
Transition to the new scheme

Chapter 4 - Committee view and recommendations (PDF 15KB)

The bill in the context of policy for the financial sector
A single body to hear complaints
Concerns about the content of the bill

Additional Comments by Labor Senators (PDF 86KB)

Overall views on the bill
Background to the bill
Changes made by the bill—non-superannuation disputes
Name of the new scheme
Superannuation Complaints Tribunal
The Superannuation Complaints Tribunal should not be abolished
Conclusion

Appendix 1 - Submissions and additional documents received (PDF 15KB)
Appendix 2 - Public hearings and witnesses (PDF 13KB)

Committee Secretariat contact:

Senate Standing Committees on Economics
PO Box 6100
Parliament House
Canberra ACT 2600

Phone: +61 2 6277 3540
Fax: +61 2 6277 5719
economics.sen@aph.gov.au

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