Systemic Issue definition
Systemic Issue means a matter such as undisclosed fees or charges, misleading communications, administrative errors or product flaws discovered in the course of considering a Complaint against a Participating Firm which may have caused loss, damage or harm to one or more other Customers of the Participating Firm in a similar fashion to that experienced by the original Complainant;
Systemic Issue means a recurring or persistent issue, policy or practice that may affect more than one individual.
Systemic Issue means a matter discovered in the course of considering a Complaint which may have caused a loss or inconvenience to one or more other Customers in a similar fashion to that experienced by the original Complainant;
Examples of Systemic Issue in a sentence
The TIO may also notify the ACMA of illegal phoenixing activity (or suspected illegal phoenixing activity) as part of a Systemic Issue notification under clause 10.
A systemic issue has the meaning in the TIO’s Terms of Reference (Systemic Issue).