RG 271 Internal dispute resolution

Issued 2 September 2021

This guide is for Australian financial services (AFS) licensees, unlicensed product issuers, unlicensed secondary sellers, trustees of regulated superannuation funds (other than self-managed superannuation funds (SMSFs)), trustees of approved deposit funds, retirement savings account providers, Australian credit licensees (credit licensees) and unlicensed carried over instrument lenders (unlicensed COI lenders).

The standards and requirements highlighted in this guide are enforceable.

It explains what these financial firms must do to have an internal dispute resolution (IDR) system in place that meets ASIC’s standards and requirements.

This guide should be read in conjunction with Regulatory Guide 267

Oversight of the Australian Financial Complaints Authority (RG 267).

Most financial firms with IDR obligations under RG 271 will also need to report IDR data to ASIC .

Note:
This guide refers to the Australian/New Zealand Standard AS/NZS 10002:2014 Guidelines for complaint management in organizations . The 2014 Standard was revised and reissued as Australian Standard AS 10002:2022 Guidelines for complaint management in organizations . Both Standards are available from the Standards Australia website .

Download

Download the guide (PDF 701 KB)

Download the regulation impact statement (PDF 357 KB)