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Australian Financial Complaints Authority Where does the funding originate from

steven made this Freedom of Information request to Australian Securities and Investments Commission

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From: steven

Delivered

Dear Australian Securities and Investments Commission,

Does ASIC oversea the operations of the Australian Financial Complaints Authority

Being a non government owned publicly listed company, how does Australian Financial Complaints Authority generate income to pay wages and the expenses of day to day operations.

Do Australian Financial Complaints Authority employees receive and perks, incentives or bonuses from any corporations or government entities for any reason ?

Does Australian Financial Complaints Authority receive any funding from Government departments if so which departments contribute and how much do they contribute.

Does Australian Financial Complaints Authority use the national credit code to investigate , make recommendations and determinations ?

Does Australian Financial Complaints Authority use any federal legislation like the trade practices act to make it's decision , if not please elaborate.

Yours faithfully,

steven

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From: FOIrequest
Australian Securities and Investments Commission

Dear Sir,

Your below email was sent to ASIC's email address for receiving requests made under the Commonwealth Freedom of Information Act 1982 Cth (FOI Act).

As your request is not a request made under the FOI Act, rather a request of a general nature, you may contact ASIC's Infoline on 1300 300 630 for further information or make an enquiry at www.asic.gov.au/question.

Mirijana Soldatic
Senior Manager, FOI, Chief Legal Office
Australian Securities and Investments Commission
Level 7, 120 Collins Street, Melbourne, 3000
[email address]

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From: steven

Delivered

Dear Australian Securities and Investments Commission,

Please pass this on to the person who conducts Freedom of Information reviews.

I am writing to request an internal review of Australian Securities and Investments Commission's handling of my FOI request 'Australian Financial Complaints Authority Where does the funding originate from'.

I am disappointing with response from the public authority, I cannot see any conflict of interest or possible security breach that would occur by simply disclosing the source of AFCA's funding, I'm sure many people would be interesting is this information, if AFCA staff are receiving bonuses for recommendations it would explain the biased view when favoring the banks in 99.9% of registered complaints.

I wouldn't be at all surprised if AFCA staff were receiving bonuses considering that ASIC allow the banks to decide what is deemed to be irresponsible lending.

A full history of my FOI request and all correspondence is available on the Internet at this address: https://www.righttoknow.org.au/request/a...

Yours faithfully,

steven

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From: FOIrequest
Australian Securities and Investments Commission

Dear Sir,

You have asked for an internal review of ASIC's handling of your FOI request titled 'Australian Financial Complaints Authority Where does the funding originate from'.

On 1 March 2019 ASIC received your email listing a series of questions concerning the Australian Financial Complaints Authority (AFCA).

On 1 March 2019 ASIC responded to your email stating that as your request was not a request made under the FOI Act, but rather a request of a general nature, you may contact ASIC's Infoline or make any enquiry on line at www.asic.gov.au/question.

The FOI Act does not provide a right to access information or to have questions answered, it provides a right to access documents in the possession of Commonwealth government agencies.

For a request to be a valid FOI request it must:

• be in writing
• state that a request is an application for the purposes of the FOI Act;
• provide such information concerning the document as is reasonably necessary for the agency to identify it; and
• give details of how FOI Act notices may be sent to you.

As your request did not satisfy all of the above criteria, ASIC suggested that you contact either Infoline or make an on-line enquiry as it appeared from the nature of the questions posed that you may be assisted by taking this course of action.

Right to internal review

The FOI Act provides that an applicant may seek an internal review of an access grant decision or an access refusal decision made “in accordance with a request”.

ASIC’s email of 1 March 2019 is not an access grant decision, or an access refusal decision made in accordance with a request. You therefore do not have a right to seek internal review.

If you wish to make an FOI request for documents, please note the matters raised above.

Kind regards

Mirijana Soldatic
Senior Manager, FOI, Chief Legal Office
Australian Securities and Investments Commission
Level 7, 120 Collins Street, Melbourne, 3000
Tel: +61 3 9280 3205 | Mob: +61 0478 325 073
[email address]

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