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AFCA is here – The new ‘One Stop Shop’ for insurance EDR

The Australian Financial Complaints Authority (AFCA), the new external dispute resolution scheme for the financial services sector, became operational on 1 November 2018.  AFCA replaces the Financial Ombudsman Service (FOS), the Credit & Investments Ombudsman (CIO) and the Superannuation Complaints Tribunal (SCT).  Similar to FOS, AFCA is based on an ombudsman model.

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