Equip Chair appointed to new financial disputes authority
Superannuation | 2/05/2018 |
2 min read
The Minister for Revenue and Financial Services, Kelly O'Dwyer, has announced the appointment of Equip's independent Chair, Andrew Fairley AM, to the board of the financial services industry's new single dispute resolution body, the Australian Financial Complaints Authority (AFCA). Mr Fairley is one of four appointees to the AFCA Board, effective from 4 May 2018.
The AFCA Board will be chaired by former Assistant Treasurer, Helen Coonan, and is comprised of eleven directors with equal number of financial services industry and consumer representatives.
The three other directors joining the AFCA Board with Mr Fairley include director and principal adviser at Quantum Financial, Claire Mackay, commercial litigation, insurance and financial disputes lawyer, Alan Wein, and the Director of Campaigns and Communications CHOICE, Erin Turner.
Ms O'Dwyer confirmed that all Australian Financial Services Licensees will be required by law to become members of AFCA by 21 September 2018.