Treasury Review of AFCA - Reporting Systemic Issues to APRA
Phillip Sweeney made this Freedom of Information request to Australian Prudential Regulation Authority
This request has been closed to new correspondence from the public body. Contact us if you think it ought be re-opened.
Dear Australian Prudential Regulation Authority,
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-0 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 APRA (as well as ASIC).
The document (or documents I seek) are copies of any correspondence from David Locke (or AFCA) to APRA that would confirm that David Locke has complied with his duty to report systemic misconduct to APRA.
Yours faithfully,
Phillip Sweeney
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