This paper traces the establishment of the new Australian Financial Complaints Authority (AFCA). It places this development within the wider context of what we argue is an important new adjunct to the Australian financial regulatory architecture, and by implication therefore, the international significance of these reforms to countries that have adopted the Australian “Twin Peaks” model. By reference to the Ramsay Review and other sources, we include analysis of AFCA’s forerunners, and their failures; and we include comparative analysis from other jurisdictions. We provide analysis of AFCA’s strengths and potential weaknesses, and some initial data on AFCA outcomes. Finally, we provide concluding remarks on these reforms.

中文翻译：

---

AFCA：澳大利亚双峰之间的第一个山麓

本文追溯了新的澳大利亚金融投诉局 (AFCA) 的成立。它将这一发展置于更广泛的背景下，我们认为这是澳大利亚金融监管架构的一个重要的新附属物，因此暗示这些改革对采用澳大利亚“双峰”模式的国家的国际意义。通过参考拉姆齐评论和其他来源，我们包括对 AFCA 先驱及其失败的分析；我们包括来自其他司法管辖区的比较分析。我们提供了对 AFCA 优势和潜在弱点的分析，以及一些关于 AFCA 结果的初步数据。最后，我们对这些改革进行总结。