The AFCA Scheme Amendment (2024 Measures No. 1) Authorisation 2024 has been registered. The instrument inserts a new clause 9A into the AFCA Scheme Authorisation 2018 which sets out that AFCA must not decide a complaint in relation to credit, financial product advice or securities dealing if the financial firm may not have money to pay any compensation to the complainant and the firm was not authorised to provide the service complained about.

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Author: David Jacobson
Principal, Bright Corporate Law
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About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.