Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 91 - 100 of 303 results for "Financial Complaints Authority"

Property fund management firm loses AFSL

MATTHEW WAI  |  TUESDAY, 15 OCT 2024
... Stated under section 912A of the Corporations Act, AFSL members must be a member of the Australian Financial Complaints Authority (AFCA) and they need to also comply with conditions on the licence and the financial services laws. Any contraventions of ...

AFCA consults on revised superannuation death benefits

MATTHEW WAI  |  TUESDAY, 8 OCT 2024
The Australian Financial Complaints Authority (AFCA) is seeking feedback on how it approaches superannuation death benefits in hopes to reduce disputes and misunderstandings when processing such complaints. This follows on from another consultation ...

Hanson backs Dixon Advisory inquiry

KARREN VERGARA  |  WEDNESDAY, 18 SEP 2024
... compensation for Dixon Advisory victims has reached $338.6 million, according to the Australian Financial Complaints Authority (AFCA), affecting nearly 2800 victims. Evans and Partners did not respond to Financial Standard's request to comment on ...

AFCA consults on superannuation life insurance disputes

ANDREW MCKEAN  |  TUESDAY, 10 SEP 2024
The Australian Financial Complaints Authority (AFCA) is seeking feedback on how it approaches dealing with common life insurance related complaints. The external dispute resolution company is specifically consulting on two draft approach documents for ...

Sequoia ends FY24 with 350 advisers

KARREN VERGARA  |  TUESDAY, 27 AUG 2024
... its troubled advice firm Libertas Financial Planning last year, which failed to pay an Australian Financial Complaints Authority (AFCA) determination two months prior to it folding. Sequoia is grappling with a string of matters related to "the provision ...

ASIC scraps Libertas' AFSL for unpaid compensation

KARREN VERGARA  |  TUESDAY, 20 AUG 2024
... Resort (CSLR). Libertas, which went into liquidation in September 2023, failed to pay an Australian Financial Complaints Authority (AFCA) determination two months prior to it folding. That claim then progressed to the CSLR, which ultimately paid an undisclosed ...

AFCA urges super trustees to improve processes

ELIZA BAVIN  |  TUESDAY, 13 AUG 2024
The Australian Financial Complaints Authority (AFCA) said the average loss on a superannuation scam complaint was just under $90,000. AFCA said of the nearly 11,000 complaints in relation to scams last financial year, less than 20 came from superannuation ...

AFSLs can lose licence on CSLR intervention

KARREN VERGARA  |  WEDNESDAY, 7 AUG 2024
... he said. While AFSLs ultimately have the responsibility to pay the compensation, the Australian Financial Complaints Authority (AFCA) and the CSLR, in some cases, have had to rope in the PII. "We are sensitive to that, but it does reach a point where ...

Former wealth management chief ousted from financial services

ANDREW MCKEAN  |  FRIDAY, 2 AUG 2024
... advised UGC clients to seek independent advice and consider lodging complaints with the Australian Financial Complaints Authority if they have concerns about the advice they received. Last June, ASIC obtained interim orders from the Federal Court to ...

AFCA complaints surge in FY24

KARREN VERGARA  |  THURSDAY, 1 AUG 2024
The Australian Financial Complaints Authority (AFCA) received a record number of complaints in the 2024 financial year, jumping 9% to more than 105,000. Preliminary numbers show scam-related complaints drove the surge, together with motor vehicle insurance ...