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Showing 181 - 190 of 303 results for "Financial Complaints Authority"

Advisers receive guidance on rights under FSCP

JAMIE WILLIAMSON  |  THURSDAY, 4 AUG 2022
... contraventions of financial services law, and refusal or failure to give effect to an Australian Financial Complaints Authority determination at least twice. However, the regulator also explained that it may choose to convene a panel after determining ...

Latest AFCA data shows big shifts in complaints

JAMIE WILLIAMSON  |  WEDNESDAY, 20 JUL 2022
In the realm of investments and advice, the number of complaints made to the Australian Financial Complaints Authority over the interpretation of product terms and conditions increased more than six-fold last financial year, while complaints about inappropriate ...

Natalie Cameron named AFCA lead ombudsman

ANDREW MCKEAN  |  THURSDAY, 7 JUL 2022
The Australian Financial Complaints Authority has appointed Natalie Cameron as its new lead ombudsman for banking and finance. Cameron moves into the position from her current appointment as lead ombudsman for investments and advice at AFCA. She has ...

AFCA adopts user pays funding model

CASSANDRA BALDINI  |  TUESDAY, 31 MAY 2022
Adopting a 'user pays' model, the Australian Financial Complaints Authority's new funding model will see the vast majority of financial services firms pay the same or less than they have previously. The new funding model follows extensive consultation ...

AFCA adopts case merit assessments

JAMIE WILLIAMSON  |  MONDAY, 9 MAY 2022
The Australian Financial Complaints Authority will permanently adopt a merit assessment process, so that complaints where no error or financial loss has occurred can be identified and excluded quickly. AFCA conducted a three-month pilot program last ...

AFCA consults on funding

ELIZABETH MCARTHUR  |  THURSDAY, 10 MAR 2022
The Australian Financial Complaints Authority is consulting with financial firms on a new user-pays funding model. Under the proposed model AFCA estimates that 90% of its members would see a positive or neutral impact on total cost and one in five members ...

CSLR will not fully protect investors

KARREN VERGARA  |  WEDNESDAY, 16 FEB 2022
... continue to push for expanding the CSLR's jurisdiction to reflect the remit of the Australian Financial Complaints Authority. "Victims of financial misconduct who have received a determination from AFCA deserve access to compensation if their determination ...

ASIC considering more action on Sterling collapse

KARREN VERGARA  |  MONDAY, 14 FEB 2022
... 2001 and have not consented to participate in relevant remediation processes with the Australian Financial Complaints Authority. ASIC is also looking into the recommendation of establishing a framework that promotes greater awareness and understanding ...

ASFA names new chair

KARREN VERGARA  |  WEDNESDAY, 2 FEB 2022
... who will retire from the role. Dransfield is currently a non-executive director of the Australian Financial Complaints Authority and Hollard Insurance. He led the Insurance Council of New Zealand for four years is the former chief executive of Suncorp's ...

Inquiry criticises gaps in CSLR

KARREN VERGARA  |  MONDAY, 31 JAN 2022
... appeared at the inquiry, said the CSLR should oversee all financial services covered by the Australian Financial Complaints Authority or as an absolute minimum, managed investment schemes, funeral insurance policies and debt management firms. "Ultimately ...