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

Search Results

Showing 151 - 160 of 312 results for "Australian Financial Complaints Authority"

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
... have not 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 ...

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 ...

Treasury names new ASIC commissioners

KARREN VERGARA  |  FRIDAY, 25 AUG 2023
... member of the panel for the Ramsay Review, which recommended the establishment of the Australian Financial Complaints Authority and Compensation Scheme of Last Resort. Constant has been with CBA for nearly three years and previously was in a similar ...

Westpac reports $1.8bn net profit, rise in stressed assets

ANDREW MCKEAN  |  MONDAY, 21 AUG 2023
... compensation of up to $150,000 to consumers who have an unpaid determination from the Australian Financial Complaints Authority relating to personal financial advice, credit intermediation, securities dealing or credit provisions. It will be funded by ...

ASIC takes Dixon Advisory director to court

KARREN VERGARA  |  FRIDAY, 4 AUG 2023
... they 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.

Advisers lacking PII sidestep AFCA rulings

KARREN VERGARA  |  FRIDAY, 28 JUL 2023
... Financial 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 ...

ASIC cancels FTX Australia's licence

CASSANDRA BALDINI  |  WEDNESDAY, 19 JUL 2023
... cancellation has no effect on requirements for FTX Australia to continue as a member of the Australian Financial Complaints Authority, and to have arrangements for compensating retail clients. FTX entered voluntary administration on November 11, and ...

CSLR finally passes senate

KARREN VERGARA  |  FRIDAY, 23 JUN 2023
... dealing and/or credit. It enables consumers who have an unpaid determination from the Australian Financial Complaints Authority to be compensated up to $150,000. Consumers will be able to lodge claims for compensation from April 2024, with the first ...

Former Capstone adviser in EU with ASIC

JAMIE WILLIAMSON  |  THURSDAY, 22 JUN 2023
... notify all his clients of the remediation program and their right to complain to the Australian Financial Complaints Authority if any issues cannot be resolved with Capstone, ASIC said. Prior to Capstone, Blackaby was licensed through AIW Dealer Services ...