In a feedback summary published today, ASIC has outlined its approach to publishing two public-facing dashboards containing Internal Dispute Resolution (IDR) and Reportable Situations (RS) data.
The approach was determined following consideration of 47 submissions received in response to CP 383 Reportable situations and internal dispute resolution data publication (CP 383).
ASIC will proceed with plans to publish IDR data at firm-level, but after careful consideration of feedback received, has decided not to proceed with its initial proposal to publish firm-level RS data. ASIC will instead publish aggregate-level RS data.
In making this decision about the RS publication, ASIC sought to balance the benefits of firm-level transparency against concerns around the maturity of the RS regime, particularly following recent changes to firms' reporting obligations.
While proceeding with plans to publish firm-level IDR data, ASIC has made key changes to how the data will be presented, including around complainant privacy, data comparisons, and explanatory material to support contextualisation.
ASIC’s approach to the IDR dashboard publication supports the purpose of the IDR reforms to:
- enhance accountability and transparency
- drive firms to improve their practices, and
- provide valuable information to customers.
This approach aligns with and will complement the existing publication of firm-level external dispute resolution (EDR) data by the Australian Financial Complaints Authority (AFCA).
For a summary of ASIC’s responses to concerns raised during consultation, please see feedback on CP 383.
ASIC is set to publish the RS dashboard in October, in line with legislative requirements, with the IDR dashboard to be published later this year.
Download
Summary of feedback to CP 383 and ASIC’s response
Background
Australian financial services (AFS) and credit licensees are required to report compliance breaches to ASIC under the RS regime, and ASIC is required each year to publish information about reports lodged and the entities to which those reports relate.
The IDR regime requires certain financial firms to report all complaints received through their IDR processes. ASIC has the power to publish financial firms’ IDR data, including at a firm level.
In previous years, ASIC published thematic reports on RS and IDR but has since foreshadowed the intention to publish interactive dashboards following consultation.
ASIC’s Corporate Plan 2024–25 outlined that as a part of ASIC’s commitment to improving consumer outcomes, ASIC will publish firm-level IDR data in 2025, in addition to developing a framework for the ongoing publication of data about the reports received under the RS regime.
ASIC’s approach is designed to encourage improved behaviour and increase confidence in the financial system by enhancing transparency and accountability.
ASIC consulted on its proposed approach over April and May 2025.
