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ARTICLE · 26 FEBRUARY 2024

Internal Dispute Resolution (IDR) Reporting Due For Financial Services Licensees

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All Australian financial services licensees with a retail authorisation, Australian credit licensees and certain unlicensed entities...

AustraliaFinance and Banking
Daniel Knight
Daniel Knight
Laura McFadzean
Laura McFadzean

All Australian financial services licensees with a retail authorisation, Australian credit licensees and certain unlicensed entities and superannuation trustees (eligible entities) are required to report IDR data to ASIC by 29 February 2024 at 11:59 PM.

Eligible entities must submit their IDR data covering the period 1 July to 31 December 2023.

As reported in a previous Global Investment Law Watch blog post, ASIC has introduced an IDR reporting framework, requiring eligible entities to report on the status of each client complaint for the reporting periods 1 January to 30 June, and 1 July to 31 December. Entities have a two month submission window following each reporting period.

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