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Showing 111 - 120 of 205 results for %22Australian Financial Complaints Authority%22

Remediation services profiting from Royal Commission failures

ELIZABETH MCARTHUR  |  THURSDAY, 11 MAR 2021
... or friend or almost any trusted person. Remediator recently appeared on A Current Affair, where Virgona said every Australian should make use of their service and see if they are eligible for remediation. The program featured several testimonials from ...

Pandemic boosts scam complaints

ANNABELLE DICKSON  |  THURSDAY, 11 MAR 2021
... increase in the number of scam-related financial complaints, according to new data from the Australian Financial Complaints Authority (AFCA). AFCA's half-year statistics revealed scam-related complaints made up 23% of the 34,047 new complaints in the ...

Review of AFCA underway

ELIZABETH MCARTHUR  |  MONDAY, 22 FEB 2021
The government has released terms of reference for the review of the Australian Financial Complaints Authority, asking for stakeholder feedback. The review will be conducted by Treasury, aiming to test whether AFCA is operating effectively and achieving ...

AFCA chair under fire

ELIZABETH MCARTHUR  |  THURSDAY, 18 FEB 2021
... reported loss of $120 million and EBITDA down 99% to $4.4 million. Crown did not declare an interim dividend. Speaking to Financial Standard, Alphinity portfolio manager Bruce Smith said he isn't sure how Coonan sailed through the NSW inquiry into ...

AFCA forced into rule change

ELIZABETH MCARTHUR  |  FRIDAY, 22 JAN 2021
The Australian Financial Complaints Authority has been forced into a rule change regarding its jurisdiction over authorised representatives after a court decision. The NSW Supreme Court ruled in the case of DH Flinders v Australian Financial Complaints ...

The barriers to limited advice: Licensees

ANNABELLE DICKSON  |  MONDAY, 11 JAN 2021
... interpretation under FASEA and ASIC's own regulation and can be reinterpreted by the Australian Financial Complaints Authority. "But any guidance that would give an adviser and the licensee more confidence that they can speak freely in a statement of ...

ASIC cancels two AFSLs

ELIZA BAVIN  |  MONDAY, 30 NOV 2020
... Selectinvest failed to maintain its external dispute resolution membership with the Australian Financial Complaints Authority (AFCA), and had failed to lodge its annual financial and audit reports since 2017. "ASIC expects AFS licensees to do all things ...

AFCA pivots to member experience

ANNABELLE DICKSON  |  MONDAY, 23 NOV 2020
The Australian Financial Complains Authority (AFCA) is placing a higher emphasis on member experience following an increase in its membership base, two years on from its launch. In its first two years, AFCA's membership has grown to 40,000 members across ...

Former adviser pleads guilty to stealing client funds

ELIZA BAVIN  |  WEDNESDAY, 18 NOV 2020
... Hopkins and QWL began in 2019 in response to allegations that QWL had failed to assist the Australian Financial Complaints Authority in resolving client complaints. In November 2019, ASIC obtained orders restraining Hopkins and QWL from dissipating assets ...

Financial services complaints rise

ELIZA BAVIN  |  MONDAY, 9 NOV 2020
... made about financial services have almost doubled since last year, according to the Australian Financial Complaints Authority (AFCA). In its yearly report, AFCA revealed complaints had risen to 80,546 from 47,223, which is a 14% increase in the monthly ...