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

Search Results

Showing 171 - 180 of 899 results for "Compensation"

AFCA secures $1.2bn in refunds

CASSANDRA BALDINI  |  TUESDAY, 21 NOV 2023
Since its inception, the Australian Financial Complaints Authority (AFCA) has clawed back $1.2 billion in compensation and refunds for more than 400,000 consumers and small businesses. Reaching its fifth year in operation, AFCA explained its efforts ...

ASIC strips institutional broker's AFSL

ANDREW MCKEAN  |  THURSDAY, 16 NOV 2023
... Markets must continue its membership with the Australian Financial Complaints Authority (AFCA) and uphold its client compensation commitments, including professional indemnity insurance coverage. The institutional broker, formerly authorised to provide ...

E&P settles class action for $16m

KARREN VERGARA  |  WEDNESDAY, 15 NOV 2023
... ability to claim against it before the Australian Financial Complaints Authority (AFCA) and potentially under the Compensation Scheme of Last Resort (CSLR). Former chief Dixon stepped down in mid-2019 amid the controversy surrounding ASX-listed URF. ...

More than $17m paid in CFD-related remediation

JAMIE WILLIAMSON  |  THURSDAY, 9 NOV 2023
More than $17.4 million has been made in compensation payments to retail clients affected by legal breaches by eight retail OTC derivative issuers, $13 million of which was paid by Binance alone. ASIC said the payments have been made to more than 2000 ...

AFCA consults on advice, MIS compensation

KARREN VERGARA  |  TUESDAY, 7 NOV 2023
The Australian Financial Complaints Authority is seeking feedback on how it should determine compensation that involves financial advice and managed investment schemes (MIS). This includes how AFCA should determine compensation for investors affected ...

Dispute resolution failures land TelstraSuper in Federal Court

KARREN VERGARA  |  MONDAY, 6 NOV 2023
... cases, complainants suffered financial loss while the complaint remained unresolved or experienced delays in obtaining compensation or access to moneys to which they were found to be entitled," ASIC said. In the year to June 2023, TelstraSuper received ...

Hollywood strike plays havoc with film fund

CASSANDRA BALDINI  |  FRIDAY, 3 NOV 2023
... high-net-worths. However, it's been lights out since the Writers Guild of America (WGA) members called for better compensation, job security, staffing and protection against artificial intelligence job interference. The Screen Actors Guild (SAG-AFTRA) ...

Super fund, insurer admin issues draw AFCA complaints

KARREN VERGARA  |  MONDAY, 23 OCT 2023
... issues on administrative and legacy systems that have drawn customer 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 ...

Crypto exchanges to obey financial services rulebook

ANDREW MCKEAN  |  MONDAY, 16 OCT 2023
... "efficiently, honestly, and fairly." Further, they'll be required to manage conflicts of interest and establish a compensation mechanism for retail clients who incur loss or damage due to breaches of AFSL obligations. In a joint statement, treasurer ...

APRA finds signs of step change in remuneration practices

ANDREW MCKEAN  |  THURSDAY, 7 SEP 2023
... implementation efforts, the regulator pointed out shortcomings in financial services entities controls for third-party compensation conflicts and understanding of how non-financial measures will drive "desired behaviour" regarding risk outcomes and performance. ...