AFCA Funding Model Webinar

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9 June 2022 | 10:30am - 11:30am | Webinar | AFCA Funding Model

In early 2021, AFCA appointed PwC to undertake a review of its current funding model and develop a new model that would be fit-for-purpose, sustainable, and fair to AFCA members. 

In developing the new model, AFCA and PwC took AFCA member feedback into account and considered the key findings and recommendations of the recently published AFCA Independent Review – with a particular focus on a “user-pays” approach that reduces the burden on smaller members and those industries who are not heavy users of AFCA, minimising cross-subsidisation across sectors, and supporting firms to better forecast and budget for complaints.  

The proposed funding model includes a number of key features including a single annual registration fee, a simplified complaints fee structure, free complaints, and changes to the superannuation levy. 

AFCA consulted on the new funding model in March and April 2022. And is now responding to queries and collating the consultation results to share more information about the final funding model in late May 2022. The final model will be introduced on
1 July 2022.

Join AFCA Chief Operating Officer, Justin Untersteiner to hear about the Ombudsman’s new funding model, and how it will affect different sectors across the financial services industry – including banking and finance, insurance, investments and advice, and superannuation.

Tune in to hear Justin explore the design and development of AFCA’s new funding model and share an overview of its key features and benefits for members. Attendees will also have the opportunity to ask questions.