GRCGuideline

RG 271

Regulatory Guide: 271 Internal Dispute Resolution

This regulatory guide outlines enforceable standards and requirements for internal dispute resolution (IDR) systems for financial firms in Australia. It specifies the obligations these firms must meet to comply with ASIC's IDR standards.

Book your strategy call View source ↗

Overview

RG 271 establishes mandatory guidelines for Australian financial services (AFS) licensees, trustees of regulated superannuation funds, credit licensees, and other financial institutions to operate effective internal dispute resolution systems. It aims to ensure complaints are handled fairly and transparently, aligning with ASIC's oversight. The guide references both AS/NZS 10002:2014 and AS 10002:2022 standards for complaint management and is intended to work alongside RG 267, which covers the Australian Financial Complaints Authority (AFCA). Many firms subject to RG 271 are also required to report IDR data to ASIC for compliance monitoring.

Related in GRC

GRCStandard

APS 222 — Prudential Standard APS 222: Associations with Related Entities

APS 222 is a prudential standard issued by the Australian Prudential Regulation Authority (APRA) aimed at ensuring that authorised deposit-taking institutions (ADIs) identify, monitor, and control risks related to their associations and dealings with related entities. It mandates policies and limits on exposures to mitigate contagion and step-in risks.

Australian Prudential Regulation Authority (APRA) • Australia • vJanuary 2015

View details

GRCRegulation

APS 220 — Prudential Standard APS 220 Credit Risk Management

APS 220 sets requirements for authorised deposit-taking institutions (ADIs) to establish a comprehensive credit risk management framework. The standard includes strategies, policies, and procedures for identifying, assessing, and mitigating credit risks.

Australian Prudential Regulation Authority (APRA) • Australia • vSeptember 2020

View details

GRCRegulation

APS 210 — Prudential Standard APS 210 Liquidity

APS 210 Liquidity is a prudential standard issued by APRA requiring authorised deposit-taking institutions (ADIs) to adopt prudent practices in managing liquidity risks. It mandates maintaining adequate liquidity to meet obligations under various operating scenarios, including severe stress situations.

Australian Prudential Regulation Authority (APRA) • Australia

View details

GRCRegulation

3PS 310 — Banking, Insurance and Life Insurance (Prudential Standard) Determination No. 4 of 2016 - Prudential Standard 3PS 310 Audit and Related Matters

This prudential standard sets out auditing and related responsibilities for entities operating within the banking, insurance, and life insurance sectors in Australia. It is part of the regulatory framework administered by the Department of Treasury under the Banking Act, Insurance Act, and Life Insurance Act.

Australian Prudential Regulation Authority (APRA) • Australia

View details

Ready to manage these frameworks?

6clicks maps regulations to controls, evidence and risks — automatically.

Book your strategy call