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Showing 161 - 170 of 312 results for "AFCA"

Advice complaints decelerate: AFCA

KARREN VERGARA | WEDNESDAY, 8 MAR 2023

... advice-related complaints has slashed by nearly half in the last year, according to the Australian Financial Complaints Authority (AFCA). AFCA registered 2211 financial advice-related complaints in 2022, the majority of which concern Dixon Advisory and ...

More DASS complainants flock to AFCA

KARREN VERGARA | MONDAY, 6 FEB 2023

... August, corporate watchdog ASIC urged former DASS clients who potentially suffered bad advice to lodge a formal complaint with AFCA, which subsequently registered some 1600 complainants in November. ASIC warned that complainants will experience delays ...

Court ruling reiterates need to comply with AFCA

CASSANDRA BALDINI | WEDNESDAY, 25 JAN 2023

... court ruling has reaffirmed that financial institutions must cooperate with the Australian Financial Complaints Authority (AFCA) or face penalties. The ruling came in a case ASIC brought against home finance companies, General Commercial and Eden Capital ...

Trustees must improve IDR processes: ASIC

JAMIE WILLIAMSON | FRIDAY, 9 DEC 2022

... maximum timeframe, putting at risk the complainant's ability to complain to the Australian Financial Complaints Authority (AFCA). They're also often failing to explain why there's been a delay, ASIC said. It found 48% of the total complaints ...

ASIC suspends, cancels AFSLs

CHLOE WALKER | WEDNESDAY, 7 DEC 2022

... ban of its managing director Peter Gribble for failing to pay $2.5 million in Australian Financial Complaints Authority (AFCA) determinations. According to ASIC, QFML also didn't have the required professional indemnity insurance coverage. "The licence ...

DASS clients pushed to accept paltry recoupment

ANDREW MCKEAN | FRIDAY, 2 DEC 2022

... $3048 and the worst $86. Directors attributed the company's failure to the Australian Financial Complaints Authority (AFCA) confirming that it would continue to make adverse findings in relation to claims of Dixon Advisory clients and because of ...

AFCA secures $900m in compensation

CASSANDRA BALDINI | MONDAY, 21 NOV 2022

... and refunds since the ombudsman service opened its doors in November 2018. The Australian Financial Complaints Authority (AFCA) said it's also handled more than 300,000 disputes, an average of 200 complaints per day, over the past four years. AFCA ...

Evidence of poor LRBA advice: Report

ANDREW MCKEAN | THURSDAY, 17 NOV 2022

... borrowing arrangements (LRBAs) that could put their retirement savings at risk. The Australian Financial Complaints Authority (AFCA) and ASIC remain concerned about inappropriate advice to SMSFs. ASIC identified concerns about SMSFs taking advice encouraging ...

Former DASS clients flood AFCA with complaints

JAMIE WILLIAMSON | TUESDAY, 8 NOV 2022

... in dealing with their case. On August 3, ASIC publicly urged former clients of the group to lodge formal complaints with AFCA if they believe they suffered a loss due to misconduct related to financial advice. As at November 1, more than 1600 former ...

AFSL boss banned by ASIC

CASSANDRA BALDINI | TUESDAY, 11 OCT 2022

... was a director, former AFS licensee Qsmart Securities and Quantum, refused or failed to give effect to determinations by AFCA. In 2020, AFCA made a total of seven determinations against Qsmart and Quantum in response to complaints about unauthorised ...

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Federal Court lifts Merhi's travel ban

KARREN VERGARA

Former financial adviser Ferras Merhi is now free to travel as the Federal Court lifted travel restraint orders imposed one year ago.

Hostplus delivers double-digit FY26 returns

RIDDHIMA TALWANI

Hostplus Balanced (MySuper) option delivered members 10.8% for the financial year 2025-26, while the Indexed Balanced option and the High Growth option returned members 11.06% and 12.61% respectively.

ASIC levy estimates jump 19% as regulator ramps up funding

VINNY VUCAGO

ASIC has lifted its estimated industry funding levy by almost 20% for 2025-26, with regulated entities expected to shoulder $400.5 million in regulatory costs as the corporate watchdog expands its supervision and enforcement activities.

GQG bleeds over US$7bn in FUM in June

MATTHEW WAI

Despite recording positive investment performance, GQG Partners observed a significant outflow, with net outflows of $4.62 billion recorded in the month of June, as FUM slipped to $225 billion at June end, compared to $235.5 billion in the month prior.

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