NCCP Compliance: Complaints Policy

The purpose of a complaint policy is to describe our business approach to the management of complaints and the framework within the business that supports this.

In addition to promoting a culture of fair customer treatment, these complaints policies also assist our business in complying with:

  1. ASIC Regulatory Guide RG165 (on dispute resolution);
  2. External disputes resolution scheme rules (e.g. COSL or FOS);
  3. International Standards Organisation standard ISO10002 (on complaints handling); and
  4. The National Consumer Credit Protection Act 2009 and associated Regulations.

A complaint policy applies to all employees, agents and representatives of our business ("staff") and to all our products. The document clearly sets out the procedures Staff must follow on becoming aware of a complaint (see definition below).

Your complaints policy is one of the general conduct obligations for credit licensees. We understand that Brokers don't 'usually' receive complaints, as they complaint may be about the lender. However, if your client makes a complaint to you, you are required to log that complaint and to deal with it.

To ensure your compliance you need to test yourself against this policy regularly, document the results and take action to fix any areas of non-compliance.

QED CompliFast is an online compliance monitoring system that Australian credit licensees use to meet their NCCP compliance obligations. With different areas tested quarterly, QED CompliFast ensures adequate testing, documentation and recommended action plans for the management of complaints.

MFAA Full MemberAustralia Compliance Institute