ASIC RG 165 requires licenced firms to follow an internal and external dispute resolution process.
The first part of a dispute resolution process is to register the complaint. Once registered the AFS License holder has 5 business days to resolve the complaint to the complete satisfaction of the client before the full Internal Dispute Resolution process needs to be applied.
Our AFSL Compliant Register Maestro-Solution allows all employees or clients to report complaints. GRC-Maestro automatically notifies the firm’s Client Service team (or another team) of the complaint. The Client Service team are then able to assess whether the complaint is valid and attempt to resolve it wihtin 5 business days.
The Client Service team can utilise the AFSL Complaint Register to report and review, in real-time, to ASIC (or Senior Management, Auditors etc) on Complaints assessed as valid by time period.
GRC-Maestro keeps the records you need to show: the who, what, when and why regarding ASIC Complaint investigations.
For more information on the GRC-Maestro Platform click here.