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Showing 101 - 110 of 335 results for "AFCA"

AFCA chief operating officer departs

ELIZA BAVIN  |  THURSDAY, 30 JAN 2025
The Australian Financial Complaints Authority (AFCA) has announced that chief operating officer Justin Untersteiner will be departing, effective March 14. Untersteiner is set to take up the role of chief executive of the Australian Health Practitioner ...

FAAA accuses government of crucial CSLR failure

MATTHEW WAI  |  THURSDAY, 16 JAN 2025
... forecasting a total of $20 million in FY26 - depending on complaints resolved by the Australian Financial Complaints Authority (AFCA) before proceeding to the CSLR. The FAAA previously noted the CSLR could ultimately spike the cost of financial advice ...

CFS delivers 16.6% returns for growth members

MATTHEW WAI  |  MONDAY, 13 JAN 2025
... delivered in each area, including good customer service; according to data from the Australian Financial Complaints Authority (AFCA), CFS recorded the lowest rate of complaints. Meantime, TelstraSuper - which also announced its 2024 performance - returned ...

Hostplus' AFCA complaint response times lag

ELIZA BAVIN  |  MONDAY, 16 DEC 2024
... outlined the fund's response times to complaints made directly to it and through the Australian Financial Complaints Authority (AFCA) amongst other things. The average number of days to resolve a complaint lodged with AFCA was 132 days in the quarter ...

AFCA completes independent review of operations

ELIZA BAVIN  |  MONDAY, 9 DEC 2024
The Australian Financial Complaints Authority (AFCA) has announced the completion of a three-year program responding to the 2021 Independent Review of its operations. AFCA said the work had redefined its approach to external dispute resolution. The ...

Half of advice, super complaints result in no remedy

ELIZA BAVIN  |  WEDNESDAY, 4 DEC 2024
... activities, so industry can expect to hear more from ASIC on this issue." The Australian Financial Complaints Authority (AFCA) welcomed ASIC's report, saying it provided a "fuller picture of the consumer experience". "The publication of this data enhances ...

Firms treat CSLR as 'insurance policy': FAAA

KARREN VERGARA  |  MONDAY, 2 DEC 2024
As the number of AFSL cancellations pile up due to the non-payment of Australian Financial Complaints Authority (AFCA) determinations, far too many financial services firms are taking advantage of the Compensation Scheme of Last Resort (CSLR), treating ...

'But for' compensation methodology unfair: FAAA

KARREN VERGARA  |  FRIDAY, 29 NOV 2024
... "unfair" and "unsustainable" for the industry. The "but for" methodology is how the Australian Financial Complaints Authority (AFCA) calculates compensation and how it interplays with the Compensation Scheme of Last Resort (CSLR) raised concerns at the ...

AI no silver bullet for advice process, documentation: Experts

KARREN VERGARA  |  FRIDAY, 29 NOV 2024
... do face to face or via video." Lead ombudsman for investment and advice at the Australian Financial Complaints Authority (AFCA) Shail Singh told delegates that he has not yet come across complaints involving advice documents produced by AI and may not. ...

AFCA names and shames in fresh Datacube release

ELIZA BAVIN  |  THURSDAY, 14 NOV 2024
The Australian Financial Complaints Authority (AFCA) has completed its latest update of the AFCA Datacube, which makes data on complaints publicly accessible to consumers and financial firms. This newest update adds data covering firms with four or ...