External dispute resolution services must look for ways to speed up their processes and also assess whether they have staff with the right level of skills and experience. The Australian Securities and Investments Commission says there are a lot of complaints about the way EDR works, and the schemes need to "engage in dialogue" with their members.
Earlier this week, ASIC released the results of a review of the jurisdiction of EDR schemes (reported in yesterday's edition). It noted that the submissions raised concerns about how EDR schemes handle credit complaints in general....
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