The government has announced the transition team that will oversee the establishment of the Australian Financial Complaints Authority, which will replace the existing EDR schemes.
Minister for Revenue and Financial Services Kelly O’Dwyer has announced the members of an expert panel who will assist with the transition to the Australian Financial Complaints Authority (AFCA).
AFCA will replace the three existing financial services external dispute resolution schemes: the Financial Ombudsman Service (FOS), the Superannuation Complaints Tribunal (SCT) and the Credit and Investments Ombudsman (CIO).
Ms O'Dwyer said FOS chief ombudsman Shane Tregillis will be on the expert reference panel, along with chair of the Superannuation Complaints Tribunal Helen Davis.
Self Employed Australia director Robin Buckham and consumer member of the Superannuation Complaints Tribunal Advisory Council John Berrill also join the panel.
Former assistant governor of the Reserve Bank of Australia Malcolm Edey will lead the transition team.
“It is important that the AFCA transition team draw on existing dispute resolution expertise and a wide range of views, to make sure the AFCA is fit for purpose and meets the needs of consumers, small business and industry,” Ms O'Dwyer said.
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