AFCA opens consultation on FY2026-27 Approach consultation schedule

The Australian Financial Complaints Authority opened consultation on its proposed Approach consultation schedule for the 2026 to 2027 financial year, running from 14 August 2026 to 4 September 2026. AFCA Approach documents explain how AFCA assesses and determines particular types of complaints, applying legal principles, industry codes, regulatory guidance and good industry practice, and are intended to give financial firms and consumers practical insight into how AFCA reaches its decisions. The annual consultation schedule is intended to give stakeholders visibility of upcoming Approach consultations so they can plan their resources for the year.

AFCA proposed limiting its consultation activity to two Approach documents for the year, informed by stakeholder feedback and its own operational experience, with the specific topics and timing to take account of legislative and regulatory developments, available resources and the need to support timely complaint resolution. AFCA received eight formal submissions during the consultation period.

Following the consultation, AFCA published its final FY2026 to 2027 Approach consultation schedule on 25 September 2026, confirming two Approaches for the year, an updated Approach to awarding interest in insurance complaints, expected to commence consultation in the second quarter of the financial year, and a new Approach to credit reporting, expected to commence in the fourth quarter. A consultation feedback report and non-confidential submissions have also been published.