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Showing 141 - 150 of 312 results for "AFCA"

Super fund, insurer admin issues draw AFCA complaints

KARREN VERGARA  |  MONDAY, 23 OCT 2023
... complaints and, in some cases, led to large compensation payouts, according to the Australian Financial Complaints Authority (AFCA). AFCA's latest update details the systemic issues that plague financial services firms but does not name the organisations ...

ASFA names acting chief, chair

KARREN VERGARA  |  WEDNESDAY, 4 OCT 2023
... Dransfield is currently a non-executive director of Hollard Insurance and the Australian Financial Complaints Authority (AFCA). He has been both a board member and chair of the Insurance Council of Australia and the Insurance Council of New Zealand and ...

NextGen Financial Group forced into liquidation

KARREN VERGARA  |  MONDAY, 25 SEP 2023
After ignoring an Australian Financial Complaints Authority (AFCA) determination, which was then escalated to the Federal Court, NextGen Financial Group is now in the process of winding up. WJ & V Drakoulis Super, the trustees of the SMSF that sued ...

Financial hardship neglect lands Westpac in court

KARREN VERGARA  |  TUESDAY, 5 SEP 2023
... agreed. Banks must also inform customers that they have the right to go to the Australian Financial Complaints Authority (AFCA) if they want to challenge their decision. ASIC alleges Westpac breached the code between 4 September 2017 and 20 March 2022 ...

Sequoia liquidates Libertas Financial Planning

KARREN VERGARA  |  FRIDAY, 1 SEP 2023
... specifically, Sequoia said it is "currently acting on several matters referred to the Australian Financial Complaints Authority (AFCA) relating to the provision of financial services to its retail clients". "The directors have assessed complaints for ...

ASIC takes Dixon Advisory director to court

KARREN VERGARA  |  FRIDAY, 4 AUG 2023
... serve on the boards of multiple companies in a corporate group," said Court. The Australian Financial Complaints Authority (AFCA) counted 1726 Dixon Advisory-related complaints at the end of June 2023.

Mayfair 101 calls for senate inquiry into ASIC

JAMIE WILLIAMSON  |  WEDNESDAY, 2 AUG 2023
... 570 lenders, mostly retirees, who had subscribed to $211 million of debt instruments. Mayfair at this time had no ASIC or AFCA complaints, all lenders were paid up to date and on time, the group had obtained formal legal review of its advertising, and ...

Advisers lacking PII sidestep AFCA rulings

KARREN VERGARA  |  FRIDAY, 28 JUL 2023
... advice firms are "problematically" sidestepping compensation payments after the Australian Financial Complaints Authority (AFCA) hands down a decision, using the excuse that they do not have professional indemnity insurance (PII). Out of 5400 decisions ...

Large AFSLs lead advice complaints: AFCA

KARREN VERGARA  |  THURSDAY, 22 JUN 2023
... Financial Complaints Authority's data, with several AMP and Insignia Financial practices leading the pack. Modelling of the AFCA data shows that AMP Financial Planning received the most complaints among the advice firms with 81 filed between July ...

Martin Fahy to step down as ASFA chief

CASSANDRA BALDINI  |  FRIDAY, 26 MAY 2023
... Dransfield is currently a non-executive director of Hollard Insurance and the Australian Financial Complaints Authority (AFCA). He has been both a board member and chair of the Insurance Council of Australia and the Insurance Council of New Zealand and ...