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Showing 221 - 230 of 312 results for "AFCA"

Court rules insurers to cover COVID-19

ELIZABETH MCARTHUR  |  THURSDAY, 19 NOV 2020
... for consumers. Insurers cannot get out of paying claims by referring to outdated legislation." The test case was brought by AFCA on behalf of a tourist park business that experienced interruption due to the ongoing COVID-19 pandemic. The Insurance Council ...

RC recommendations closer to legislation

KARREN VERGARA  |  FRIDAY, 13 NOV 2020
... also handle claims efficiently, honestly and fairly, and must have an internal despite resolution process and be a member of AFCA. APRA and ASIC will now have new powers. ASIC's role in superannuation will include protecting consumers from harm and ...

Financial services complaints rise

ELIZA BAVIN  |  MONDAY, 9 NOV 2020
... about financial services have almost doubled since last year, according to the Australian Financial Complaints Authority (AFCA). In its yearly report, AFCA revealed complaints had risen to 80,546 from 47,223, which is a 14% increase in the monthly average ...

817 super complaints during COVID-19

ELIZABETH MCARTHUR  |  WEDNESDAY, 23 SEP 2020
... COVID-19 can be seen in the spikes in complaints relating to travel insurance and early access to superannuation in particular," AFCA chief executive and chief ombudsman David Locke said. "With the early access to superannuation, complaints initially ...

End of Super Complaints Tribunal nears

ELIZABETH MCARTHUR  |  MONDAY, 21 SEP 2020
... Complaints Tribunal (SCT) will cease to exist at the end of this year, with the Australian Financial Complaints Tribunal (AFCA) seeking to handle any remaining complaints currently with the SCT. AFCA has opened consultation on changing its rules to allow ...

Technology can ease adviser red tape: Academic

KARREN VERGARA  |  THURSDAY, 3 SEP 2020
... a matter of regaining trust, rather if advisers can be "trustworthy" again, she said. David Locke, the chief executive of AFCA, appeared briefly at the virtual congress signaling some good news that the industry could be on its way to regaining trust ...

Brisbane broker permanently banned

ALLY SELBY  |  TUESDAY, 11 AUG 2020
... failed to comply with his obligations under the National Credit Act after he refused to give effect to a determination made by AFCA requiring him to pay an amount to the complainants. In addition, ASIC found he had also failed to lodge an annual compliance ...

AFCA creates new role

ANNABELLE DICKSON  |  TUESDAY, 4 AUG 2020
The Australian Financial Complaints Authority (AFCA) has appointed Campbell Daff to the newly created position of head of membership services. Daff has significant experience in the design and delivery of membership value and service propositions and ...

AFCA sees 14% rise in complaints

ELIZA BAVIN  |  THURSDAY, 2 JUL 2020
... dispute with their super fund, bank, insurer or financial firm lodged more than 80,000 complaints in the last 12 months, with AFCA securing $258.6 million in compensation and refunds direct to consumers. People made 80,546 complaints to AFCA between ...

ASIC cancels two AFSLs

ELIZA BAVIN  |  MONDAY, 1 JUN 2020
... registered managed investment schemes. Australian Golden Securities is required to maintain public indemnity insurance and AFCA membership for 12 months. ASIC said both companies can apply to the Administrative Appeals Tribunal for a review of its de ...