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RG271

Dispute Resolution

On 5 October 2021, ASIC’s Regulatory Guide (RG) 271 came into effect, bringing with it reduced timeframes, and tighter oversight and reporting obligations.

ASIC encourages all financial firms to cultivate an organisational culture that welcomes feedback and values complaints. A positive complaint management culture can produce beneficial outcomes for both consumers and firms

- ASIC's Regulatory Guide 271 

Our dedicated and passionate team of RG271 experts have extensive experience working for the Australian Financial Complaints Authority (AFCA), Australian Securities and Investments Commission (ASIC), as well as some of the largest financial firms in the world.

 

Under RG271, Financial firms are permitted to outsource all or part of their Dispute Resolution processes to an external third party.

 

Our team can bring unparalleled insight into the services they provide our clients and are passionate about assisting our clients meet their regulatory obligations under RG271.

 

We are the number one third-party service provider when it comes to meeting our clients’ IDR and EDR needs.

 

Our impressive client list ranges from one of the world’s largest fund managers (globally managing over $11 trillion in assets), CFD and derivatives providers, cryptocurrency, and superannuation funds, to only name a few.

 

A brief list of services we can offer, as RG271 experts:

 

  • Audit of our clients’ current internal and external dispute resolution processes

  • Internal Policy creation

  • External Policy and process creation (including accessible copies)

  • Procedure document creation

  • IDR case management

    • Receiving, recording, and acknowledging complaints

    • Creating case files

    • Correspondence with complainants

    • Conducting mediations and negotiations

    • Sending IDR delay notifications

    • Drafting and sending IDR responses

  • Reporting

    • Collating IDR data

    • Conducting a full analysis – trends, possible systemic issues, etc

    • Recommendations on continuous improvement

    • Competitor/market analysis

    • Benchmark reporting

  • Full presentations of reports to our clients’ Board, management and Senior management, committees, etc.

  • External Dispute Resolution (EDR) case management 

    • Receiving escalations from AFCA

    • Correspondence with and responding to AFCA requests

    • Drafting responses

    • Attending conciliations

  • Any other custom-tailored service to ensure our clients are RG271 compliant

 

Don’t risk being RG271 non-compliant. Contact us today to see how our dedicated team of RG271 experts can assist you.

 

Read more about RG271 and the changes here

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