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Showing 231 - 240 of 312 results for "AFCA"

Complaints abound during COVID-19: AFCA

ELIZA BAVIN  |  THURSDAY, 28 MAY 2020
The Australian Financial Complaints Authority (AFCA) has received over 3180 COVID-19 related financial complaints since the pandemic was declared in March, with more than 600 directed at superannuation funds. Speaking to members at on online forum ...

QSuper not to appeal AFCA win

KANIKA SOOD  |  THURSDAY, 7 MAY 2020
The $110 billion superannuation fund has decided to not appeal a Federal Court order upholding an AFCA decision but says it creates further obligations for superannuation trustees. In April, QSuper's board appealed unsuccessfully to the Federal ...

Life insurers prepare for grilling

HARRISON WORLEY  |  FRIDAY, 24 APR 2020
... before the committee on Tuesday. The hearings will kick off with the Insurance Council of Australia, before moving on to AFCA, Allianz, ClearView and AIA. TAL Life - who is defending Federal Court proceedings brought against it by ASIC relating to a ...

Compliance worse than COVID-19

ALLY SELBY  |  THURSDAY, 23 APR 2020
... ill-equipped to deal with the momentum of change." The solution? "Consolidation of adviser obligations, shortening SoA endorsed by AFCA and ASIC for AFSLs to follow, maintain high education standards and a more level playing field (a review of current ...

MLC Life executive joins AFCA

HARRISON WORLEY  |  FRIDAY, 17 APR 2020
A member of MLC Life's leadership team has been appointed lead ombudsman for investments and advice at AFCA. A former industry super fund has also joined the body as lead ombudsman for superannuation. MLC Life Insurance chief of customer operation Natalie ...

QSuper board takes AFCA decision to court

KANIKA SOOD  |  THURSDAY, 16 APR 2020
QSuper has appealed against an AFCA decision favouring a member complaint seeking a refund on insurance premiums in the Federal Court. QSuper member Tommy Lam last year successfully complained to the Australian Financial Complaints Authority (AFCA) ...

AFCA extends complaints response time

ALLY SELBY  |  THURSDAY, 16 APR 2020
The Australian Financial Complaints Authority (AFCA) will provide a nine-day extension to consumers, small businesses and financial services firms to respond to complaints amid the COVID-19 crisis. The change comes into effect immediately and will apply ...

ASIC winds up three financial services companies

ELIZA BAVIN  |  WEDNESDAY, 8 APR 2020
... ASIC in July last year after an initial suspension period. The regulator said the firm has failed to obtain membership of AFCA and had breached its financial reporting and audit obligations. Financial Standard could not obtain any further information ...

ASIC cancels slew of AFSLs

JAMIE WILLIAMSON  |  FRIDAY, 3 APR 2020
... entered administration in November last year and a liquidator was appointed. The licensee is required to remain a member of AFCA for the next 12 months. In one of two other cancellations, ASIC canned the license of Your Super Life, an organisation that ...

AFCA updates approach amid COVID-19 crisis

ALLY SELBY  |  THURSDAY, 26 MAR 2020
... COVID-19 will be prioritised and fast-tracked to ensure those impacted have their issues resolved as quickly as possible," AFCA said. "AFCA will take into account the circumstances and context in which lenders and other financial firms are currently ...