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Showing 111 - 120 of 312 results for "AFCA"

AustralianSuper bears brunt of complaints: AFCA

KARREN VERGARA  |  TUESDAY, 11 JUN 2024
... like Cbus, Australian Retirement Trust (ART), and Aware Super. New data from the Australian Financial Complaints Authority (AFCA) put Australia's largest super fund at the top of the pile as the most complained about fund. Less than half (49.4%) ...

CSLR makes inaugural payments

KARREN VERGARA  |  TUESDAY, 11 JUN 2024
... advice. One payout of about $145,000 related to inappropriate personal financial advice provided to a victim from Sydney. AFCA found the fraudulent adviser provided deceitful advice and convinced the victim she was investing in a property that was to ...

Pollaers to chair AFCA for another three years

JAMIE WILLIAMSON  |  THURSDAY, 6 JUN 2024
John Pollaers will continue as chair of the Australian Financial Complaints Authority (AFCA) for another three years. Pollaers, who has served as the independent chair of AFCA for the past three years, has been reappointed to the position. This second ...

AFCA to expel Dixon Advisory

KARREN VERGARA  |  THURSDAY, 30 MAY 2024
The Australian Financial Complaints Authority (AFCA) is set to kick out Dixon Advisory & Superannuation Services (DASS) as a member over the next few weeks. AFCA announced on May 28 that the administrator of DASS has 21 days to reply to the proposal. ...

AFCA finds more Dixon Advisory victims

KARREN VERGARA  |  FRIDAY, 10 MAY 2024
The Australian Financial Complaints Authority (AFCA) added 544 more Dixon Advisory-specific victims to total 2492 complaints at the end of April, which will further exacerbate the costs and levy financial advisers must pay. The Financial Advice Association ...

AFCA and CSLR sign MoU

ELIZA BAVIN  |  THURSDAY, 9 MAY 2024
The Australian Financial Complaints Authority (AFCA) and Compensation Scheme of Last Resort (CSLR) have signed a Memorandum of Understanding (MoU) setting out how they will work together to support a fair and efficient financial services sector. The ...

ASIC hits back at parliament: 'Simply not realistic'

ELIZA BAVIN  |  TUESDAY, 30 APR 2024
... around 150 to 200. "Clearly there is a mismatch of expectations here. We are not a complaints hearing authority - we are not AFCA," Longo said. "All regulators, us included, have to make choices. We cannot investigate everything, we cannot enforce every ...

Court approves $16m DASS settlement

KARREN VERGARA  |  FRIDAY, 19 APR 2024
... sought to gather more information for the victims in delaying the approval. The Australian Financial Complaints Authority (AFCA) confirmed to Justice Thawley that the settlement does not prevent victims taking part in the class action in applying to ...

Super funds' IDR process weak, inadequate: AFCA

KARREN VERGARA  |  FRIDAY, 5 APR 2024
... process and are not doing enough to resolve member complaints before they reach the Australian Financial Complaints Authority (AFCA). The complaints authority warned that members are bypassing super funds' IDR processes and instead make a beeline ...

CSLR kicks off, 2k await compensation

KARREN VERGARA  |  TUESDAY, 2 APR 2024
... there was no opportunity for redress where a determination had been made by the Australian Financial Complaints Authority (AFCA) and the organisation has either refused to pay or been unable to pay. "Prior to the commencement of the scheme, there was ...