Credit dispute resolution

You are required to have a dispute resolution system in place if you are an:

  • Australian financial services (AFS) licensee
  • unlicensed product issuer
  • unlicensed secondary seller
  • Australian credit licensee (credit licensee)
  • credit representative.

Requirements for the dispute resolution system

The dispute resolution system must consist of:

  • internal dispute resolution (IDR) procedures that meet the standards or requirements made or approved by ASIC, and
  • membership of one or more ASIC-approved external dispute resolution (EDR) schemes.

Regulatory Guide 165 sets out the obligations of AFS licensees, unlicensed product issuers, unlicensed secondary sellers, credit licensees and credit representatives in relation to IDR procedures and membership of an ASIC-approved EDR scheme.

Find out more

Download Regulatory Guide 165 Licensing: Internal and external dispute resolution (RG 165)

What's new

ASIC reports on credit rating agencies

ASIC has conducted a market-wide surveillance of credit rating agencies and made a number of recommendations for change. 18-042MR. 15 February

ASIC welcomes establishment of the Australian Financial Complaints Authority

ASIC welcomes the passage through Parliament of the Bill to establish the Australian Financial Complaints Authority (AFCA). 18-041MR. 14 February

Small amount credit contracts and consumer leases - ASIC submission on draft bill

ASIC has provided comments on the Exposure Draft of the National Consumer Credit Protection Amendment (Small Amount Credit Contracts and Consumer Leases Reforms) Bill 2017. 7 Nov

Latest credit releases

Last updated: 20/10/2014 12:00