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Showing 261 - 270 of 312 results for "AFCA"

AFCA gets 1450 complaints a week

ELIZABETH MCARTHUR  |  WEDNESDAY, 16 OCT 2019
... Australian Financial Complaints Authority has received 1450 complaints every week so far this financial year. This number has AFCA on track to beat its previous record. In July, after six months in operation the authority had received just over 35,000 ...

Queensland-based AFSL suspended

ELIZABETH MCARTHUR  |  TUESDAY, 10 SEP 2019
... covered by its licence. Financial Options has since applied for membership with Australian Financial Complaints Authority (AFCA). Financial Options' licence has been suspended until 26 February 2020 - that period should allow time for the firm to lodge ...

AFCA ombudsman addresses adviser concerns

KRISTI CHENG  |  TUESDAY, 10 SEP 2019
AFCA ombudsman Shail Singh has addressed common adviser concerns regarding the authority's introduction of legacy complaints. Speaking at a recent Financial Planning Association of Australia event, Singh said AFCA will apply the standard of the relevant ...

ASIC approves name and shame rules

KARREN VERGARA  |  TUESDAY, 27 AUG 2019
... thing, ASIC said. "It will also enhance transparency and accountability of firms' performance in complaints handling and of AFCA's own decision-making." The move is part of a broader set of reforms aimed at increasing transparency in financial services ...

AFCA looks to expand senior ranks

KRISTI CHENG  |  FRIDAY, 26 JUL 2019
... other ombudsmen and senior executives to develop and execute the organisational strategy and initiatives necessary to realise AFCA's vision and strategy. Based in either Sydney or Melbourne, this position has six direct reports and the responsibility ...

AFCA delivers $83 million win

ELIZABETH MCARTHUR  |  MONDAY, 15 JUL 2019
... collected over $83 million for consumers and small businesses in just six months. In its first six months of operations, AFCA received over 35,000 complaints and 60% of those have already been resolved. Of the resolved complaints, 74% were resolved in ...

Sydney advice firm loses AFSL

KANIKA SOOD  |  FRIDAY, 5 JUL 2019
... Management in suspension saying the firm had failed to obtain membership of the Australian Financial Complaints Authority (AFCA) and had breached its financial reporting and audit obligations. The suspension took effect at the end of March and ASIC was ...

Xplore Wealth launches new solution

HARRISON WORLEY  |  WEDNESDAY, 3 JUL 2019
... approach that efficiently supports our loyal advisers and their clients," he said. Separately, non-executive director and AFCA ombudsman Pamela McAlister stepped down from her role on the firm's board due to the increased demands of her regulatory role. ...

ASIC approves AFCA rules change

ELIZABETH MCARTHUR  |  TUESDAY, 18 JUN 2019
... changes to the Australian Financial Complaints Authority rules for legacy complaints. The ASIC approval gives effect to the AFCA authorisation condition introduced by the government earlier this year. Under the government's additional condition, AFCA ...

New AFCA remit not enough: Law firm

KANIKA SOOD  |  MONDAY, 17 JUN 2019
... Complaints Authority after the Royal Commission are flawed and need urgent amendment. In February, the Federal Government expanded AFCA's remit to give it the power to review eligible financial complaints from 1 January 2008 onwards for the twelve months ...