Review of approved financial dispute resolution scheme rules

Submissions closed: 06 May 2021, 5pm

We are seeking public input into problems and proposed options to address jurisdictional inconsistencies between approved dispute resolution scheme rules.


There are 4 approved financial dispute resolution schemes which resolve complaints between consumers and financial service providers. The schemes are independent entities and set their own sets of rules which govern how they resolve disputes. This has resulted in various inconsistencies between schemes.

Differences in scheme rules can be useful for each scheme to adapt to their own circumstances. However, inconsistencies in jurisdictional rules – which govern what complaints the schemes can consider, and limitations on the redress schemes can award – can impact overall accessibility to the schemes and should therefore be consistent.

The discussion document and consumer summary focus on 3 key issues: financial caps for bringing a complaint (and the limits on compensation that can be awarded), timing of membership (and its impact on jurisdiction) and the applicable time periods which impact when and how a scheme can hear a complaint. Inconsistencies in these areas impact consumers’ ability to access the schemes. The discussion document seeks feedback on the problems and the proposed options to make rules consistent.

Submissions on the discussion document

We received 20 submissions listed below: