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Showing 31 - 40 of 192 results for "AFCA"

AFCA outlines systemic issues in wealth management

ANDREW MCKEAN  |  TUESDAY, 23 MAY 2023
The Australian Financial Complaints Authority (AFCA) has shed light on what it considers systemic shortcomings in the superannuation, investment, and financial advice industries. The AFCA Systemic Issues Insights report identified multiple instances ...

Treasury consults on giving AFCA more super powers

JAMIE WILLIAMSON  |  TUESDAY, 23 MAY 2023
Treasury is consulting on whether the Australian Financial Complaints Authority (AFCA) should have its remit expanded to deal with more complaints related to superannuation, following the Federal Court's MetLife decision. As it stands, under Part 7.10A ...

AFCA tallies up COVID-19 complaints

JAMIE WILLIAMSON  |  FRIDAY, 12 MAY 2023
The Australian Financial Complaints Authority (AFCA) received close to 1500 complaints about superannuation funds over the course of the COVID-19 pandemic. Releasing data now that the World Health Organisation has declared the pandemic over, AFCA said ...

AFCA appoints lead ombudsman, investments and advice

CHLOE WALKER  |  TUESDAY, 9 MAY 2023
... in the role for 16 months, Shail Singh has officially been appointed as the Australian Financial Complaints Authority's (AFCA's) lead ombudsman, investments and advice. Singh was appointed ombudsman when AFCA opened its doors in 2018, before becoming ...

Adviser complaints rise, super complaints decrease

KARREN VERGARA  |  WEDNESDAY, 19 APR 2023
... those related to financial advisers have shot up, the latest statistics from the Australian Financial Complaints Authority (AFCA) shows. In the six months to December 2022, AFCA received 2538 superannuation complaints, while financial adviser-related ...

AFCA chief to serve second term

JAMIE WILLIAMSON  |  THURSDAY, 13 APR 2023
... compensation delivered to consumers since its inception. Locke will serve a second five-year term, commencing June 28. "As AFCA's inaugural chief ombudsman, David has met the challenge of bringing together three separate dispute resolution bodies to ...

ASIC cans Binance AFSL

KARREN VERGARA  |  TUESDAY, 11 APR 2023
... these matters is ongoing, including focus on the extent of consumer harms," he said. Binance continues to be a member of AFCA until 8 April 2024. The parent company, Binance Group, is currently in hot water with several overseas regulators. In the US ...

Jones to prioritise CSLR legislation

KARREN VERGARA  |  TUESDAY, 21 MAR 2023
... consumer protections. "Right now, there are around 2000 cases on hold with the Australian Financial Complaints Authority (AFCA), awaiting passage of the CSLR. In another 30 cases, compensation has been awarded, but can't be paid until the Scheme has ...

FPA voices concern on proposed CSLR, FAR laws

ANDREW MCKEAN  |  FRIDAY, 10 MAR 2023
... ensure that consumers are covered for the full range of matters considered by the Australian Financial Complaints Authority (AFCA), including managed investment schemes (MIS)," Abood said. Of note, yesterday Treasury announced the start of its review ...

Government introduces FAR, CSLR Bills

ANDREW MCKEAN  |  WEDNESDAY, 8 MAR 2023
... risks. Meanwhile, the CSLR aims to provide monetary compensation to eligible consumers when a relevant entity fails to pay an AFCA determination awarding compensation in their favour. Under the new law, eligible consumers can apply to the CSLR operator ...