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Showing 1 - 10 of 203 results for %22Australian Financial Complaints Authority%22

Super funds' IDR process weak, inadequate: AFCA

KARREN VERGARA  |  FRIDAY, 5 APR 2024
... process and are not doing enough to resolve member complaints before they reach the Australian Financial Complaints Authority (AFCA). The complaints authority warned that members are bypassing super funds' IDR processes and instead make a beeline ...

Court delays DASS class action settlement approval

KARREN VERGARA  |  FRIDAY, 5 APR 2024
... administration in January 2022. ASIC cancelled its licence on 5 April 2023. DASS comprises the glut of the Australian Financial Complaints Authority's complaints as well as the newly launched Compensation Scheme of Last Resort. Separately, E&P chief ...

CSLR kicks off, 2k await compensation

KARREN VERGARA  |  TUESDAY, 2 APR 2024
... said there was no opportunity for redress where a determination had been made by the Australian Financial Complaints Authority (AFCA) and the organisation has either refused to pay or been unable to pay. "Prior to the commencement of the scheme, there ...

AFCA flags legal uncertainty on SMSF wholesale test

KARREN VERGARA  |  THURSDAY, 28 MAR 2024
... the appropriate wholesale test on self-managed super funds (SMSF), according to the Australian Financial Complaints Authority (AFCA). AFCA senior ombudsman Alex Sidoti used a case study at the recent AFCA Member Forum to highlight a grey area that advisers ...

Inaugural CSLR levy slugs advisers $18.5m

KARREN VERGARA  |  TUESDAY, 19 MAR 2024
... our government." The CSLR board in January provisioned for $241 million to fund the Australian Financial Complaints Authority (AFCA) claims between November 2018 and September 2022. The levy is capped at $250 million. The initial levy estimate includes ...

AFCA secures $40m in refunds

ELIZA BAVIN  |  THURSDAY, 14 MAR 2024
The Australian Financial Complaints Authority (AFCA) said it helped secure more than $40 million in refunds for hundreds of thousands of consumers between July and December 2023. AFCAs Systemic Issues Insights Report revealed the 139,011 consumers received ...

DASS settlement pending court approval, victims urged to claim

KARREN VERGARA  |  WEDNESDAY, 28 FEB 2024
... least $12 million," the company said. Compensating DASS investors continues to drag on as the Australian Financial Complaints Authority's (AFCA) released a lead decision on February 15 in a bid to help more than 1900 complainant. This is essentially ...

Jo-Anne Bloch to chair CSLR

CHLOE WALKER  |  TUESDAY, 27 FEB 2024
... compensation of up to $150,000 to eligible consumers who have an unpaid determination from the Australian Financial Complaints Authority (AFCA) relating to the provision of personal financial advice, credit intermediation, securities dealing and credit ...

ESSSuper welcomes strategy lead

ELIZABETH FRY  |  FRIDAY, 23 FEB 2024
... executive leadership. deVries replaces Sue Johnson who left six months ago to join the Australian Financial Complaints Authority as a strategic insights manager. deVries joins the $34 billion fund from Catholic Church Insurance, where she spent three ...

Morrison divestment lifts Sequoia profits

JAMIE WILLIAMSON  |  FRIDAY, 23 FEB 2024
... the prior corresponding period. However, it also flagged "several" complaints to the Australian Financial Complaints Authority (AFCA) that may impact future financials. The group's NPAT for 1H24 was more than 4000% higher at $27.8 million, primarily ...
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