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 most operationally significant change in RG 271 was the 30-day final-response deadline (45 days for superannuation complaints), down from previous expectations of up to 45–90 days. Firms must also issue an IDR response that addresses the complainant’s concerns specifically, not a templated acknowledgement.
- 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
A final IDR response within 30 days (45 days for superannuation), addressing the specific complaint.
- 04
Identification and escalation of systemic issues detected through complaint patterns.
- 05
Annual reporting of IDR data to ASIC in the required format.
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 firms that get penalised tend to be those whose 30-day clock starts on awareness — not the date the complaint is logged — and who can’t evidence the investigation steps.