Treasury Review of AFCA - Reporting Systemic Issues to ASIC - Resent

Currently waiting for a response from Australian Securities and Investments Commission, they should respond promptly and normally no later than (details).

Phillip Sweeney

{Note: This FOI Request was originally sent on 24 April 2021, however,an error message indicates that this request may not have been received by ASIC}

Dear Australian Securities and Investments Commission,

The Treasury is conducting a Review of the Australian Financial Complaints Authority and the terms of reference include "1.2 Are AFCA's processes for the identification and appropriate response to systemic issues arising from complaints effective"?

Evidence has been provided to David Locke of a systemic issue that relates to a majority of National Australia Bank's Australian Staff who were unlawfully transferred from a top-10 performing "not-for-profit" staff superannuation fund into the poor performing"for-profit" MLC Super Fund.

This transfer was in contravention of the governing rules of the fund and in contravention of superannuation laws.

David Locke has a duty to report this systemic misconduct to ASIC (as well as APRA).

The document (or documents I seek) are copies of any correspondence from David Locke (or AFCA) to ASIC that would confirm that David Locke has complied with his duty to report systemic misconduct to ASIC.

Yours faithfully,

Phillip Sweeney