Media Release

Wednesday, 25 July 2018

Industry funding for new dispute body must avoid cross subsidisation

Funding for the newly-established Australian Financial Complaints Authority (AFCA) must avoid cross subsidisation by stakeholders, including super funds, The Australian Institute of Superannuation Trustees (AIST) has warned. In its submission to AFCA on the authority’s proposed funding models, AIST says it is essential that AFCA is appropriately funded to ensure it can provide an effective and efficient dispute resolution service to consumers and scheme members.