RG 271: Internal Dispute Resolution
The ASIC Regulatory Guide that sets the standards Australian financial firms must meet for handling consumer complaints, including the 30-day final-response deadline.
Regulatory Guide 271 (Internal Dispute Resolution) is issued by the Australian Securities and Investments Commission (ASIC) and replaces RG 165. It applies to AFSL holders, credit licensees, and superannuation trustees from 5 October 2021. RG 271 codifies the IDR standards that consumers can expect, including the definition of a complaint, the timeframes for responding, and the obligation to escalate systemic issues identified through complaint patterns.
The maximum time to give an IDR response is 30 calendar days for a standard complaint, 45 for superannuation trustee and traditional trustee complaints, and 21 for complaints about credit default notices and hardship requests (RG 271.56 to 271.60). ASIC also expects a complaint to be acknowledged within 24 hours or one business day (RG 271.51). If the firm rejects the complaint in whole or part, the response must give the reasons, its findings on the material facts, and enough detail for the complainant to decide whether to go to AFCA (RG 271.54).
- 01
A documented IDR process, accessible to consumers, that meets ASIC’s definitional standards.
- 02
A complaint register with timestamps for each material event (received, acknowledged, investigated, resolved).
- 03
An IDR response within the maximum timeframe: 30 calendar days for a standard complaint, 45 for super and traditional trustee complaints, 21 for credit default and hardship complaints.
- 04
Identification and escalation of systemic issues detected through complaint patterns.
- 05
IDR data reported to ASIC every six months, including a nil submission if there were no complaints.
RG 271 turned IDR from a compliance footnote into a continuously-monitored process. Late responses are now visible in ASIC’s data set, and the systemic-issue obligation means every complaint is also a leading indicator. The clock runs from the day after the firm receives the complaint, not the day someone logs it, so a complaint that sits in an inbox is already using its time.
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