On 1 September 2018 the CIO scheme was transferred to the Australian Financial Complaints Authority (AFCA) as part of transition arrangements for AFCA commencing on 1 November 2018. From 1 September 2018 AFCA has been managing the CIO scheme.
As part of transition arrangements, any CIO complaint that is received prior to 1 November 2018 will be dealt with under the CIO Rules and the current CIO complaint fee schedule. From 1 November the AFCA scheme will commence and any disputes received by AFCA from this date will be subject to the AFCA complaint fee schedule and funding model.
A copy of AFCA’s complaint fee guide is available to all AFCA members on AFCA’s member portal, within the Invoices section.
CIO membership fees applied to CIO members up to 31 August 2018. CIO membership fees no longer apply following transfer of the CIO scheme to AFCA on 1 September 2018.