Financial complaints body given expert assistance

Australia is one step closer to getting a one-stop-shop dispute resolution scheme for financial and superannuation disputes.

The federal government has appointed a reference panel to help the transition team that is setting up the Australian Financial Complaints Authority.

The members of the reference panel are:

• Shane Tregillis – Financial Ombudsman Service chief ombudsman
• Helen Davis – Superannuation Complaints Tribunal chair
• Robin Buckham – Self Employed Australia director
• John Berrill – Superannuation Complaints Tribunal Advisory Council consumer member

The Australian Financial Complaints Authority’s role will be to provide free, fast and binding dispute resolution for small businesses and consumers.

Government wants consumers to have their say

Small business minister Michael McCormack said the reference panel would consult widely with the small business and consumer sectors as part of the transition.

“The expert panel will now go out and listen to those Australians who want to have their say and shape how the Australian Financial Complaints Authority will deal with disputes,” he said.

“We know small businesspeople and Australian consumers are busy – creating the jobs and opportunities our economy needs – so [this] announcement is an important step in the right direction.”

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