ASIC RG 165: Licensing: Internal & External Resolution
- internal dispute resolution (IDR) procedures that meet the standards or requirements made or approved by ASIC; and
- membership of the Australian Financial Complaints Authority (AFCA).
Unlicensed carried over instrument lenders (unlicensed COI lenders) must have IDR procedures that meet ASIC’s standards or requirements and may choose to be members of AFCA.
This regulatory guide sets out the obligations for AFS licensees, unlicensed product issuers, unlicensed secondary sellers, credit licensees, credit representatives, unlicensed COI lenders and securitisation bodies in relation to IDR and membership of AFCA.
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