Complaints CIO Covers
Complaints we can consider
We may be able to help you if you believe, as a consumer or a small business, that a financial services provider has:
- breached a law
- breached a relevant Code of Practice
- not met standards of good practice in the finance industry or
- acted unfairly towards you.
We are able to make recommendations for compensation up to
For full details of the types of complaints covered by the CIO, please refer to the
Complaints we are unable to consider
There are some types of complaints that we can’t deal with. These are listed in the CIO Rules.
For example, we can’t deal with complaints regarding:
- something a financial services provider (FSP) has done but which is not directly related to the financial service provided to you by the FSP
- someone who is not a participant of the CIO scheme
- a fee, charge, commission or interest rate (unless your complaint is about the non-disclosure, misrepresentation, miscalculation or incorrect application of the fee, charge, commission or interest rate, or if the charging of any of these is in breach of the law or is unconscionable)
- the policies or commercial judgement of the FSP or someone other than the FSP, examples of which are:
- a lender’s assessment of risk or of financial or commercial criteria
- a lender’s decision to refuse a loan application or the release of part of the security for the loan or to approve either of them subject to conditions
- interest rates and fees charged by a lender
- a lender’s policy to require mortgage insurance
- issues where six years have elapsed since the time you first became aware, or should reasonably have become aware, of the loss you claim you suffered as a result of the issue/s
- issues that have already been dealt with by a court, tribunal, arbitrator or another ASIC-approved EDR scheme
- investment performance of an investment product, unless it concerns non-disclosure, misrepresentation or misleading conduct.
If you are unsure if we can deal with your complaint, you can review the CIO Rules or contact us on 1800 138 422.