Published: 21 Nov 2017
Superficially the combining of three different financial services complaints bodies into a new ‘one stop shop’ appears to have efficiency benefits. However, a deeper examination reveals profound challenges, which will be difficult for AFCA to overcome.
These challenges include: concerns that superannuation fund complainants will not be better off; that trustees may face conflicting duties under law; and that superannuation is a unique product and the case for changes has not been made.
Industry Super Australia
*The above material, whilst correct at the time of publication may include references or statements which are no longer current.