Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 271 - 280 of 1883 results for "Authority"

DASS compensation drags AFCA, lead decision published

KARREN VERGARA  |  FRIDAY, 16 FEB 2024
... Compensating Dixon Advisory and Superannuation Services (DASS) victims continues to eat up the Australian Financial Complaints Authority's (AFCA) time and resources, so much so that a "lead decision" has been published to expedite the process. The complaints ...

ASIC to tighten grip on super fund misdemeanours

ANDREW MCKEAN  |  FRIDAY, 2 FEB 2024
... benefit claims handling. "We are aware of a significant increase in complaints to the Australian Financial Complaints Authority about extreme processing delays for death benefit claims, among other issues, leading to additional distress for members' ...

Unlisted asset valuation practices under review

JAMIE WILLIAMSON  |  THURSDAY, 1 FEB 2024
... unlisted assets on a quarterly basis at least. This occurred around the same time the Financial Regulator Assessment Authority criticised funds' approach to valuing unlisted assets in the wake of the Canva writedowns, as well as APRA's oversight of the ...

Australian Ethical super chief goes for growth in 2024

ANDREW MCKEAN  |  TUESDAY, 23 JAN 2024
... thing, because it encourages people to engage with their money." ESG leadership The Australian Prudential Regulation Authority (APRA) last year clarified that it expects super funds to demonstrate an understanding of ESG risks and opportunities in investment ...

Government proposes framework for clearing and settlement services regulation

ANDREW MCKEAN  |  WEDNESDAY, 17 JAN 2024
... legislative proposal aimed at regulating clearing and settlement (CS) services. The proposed instrument, issued under the authority of assistant treasurer Stephen Jones, outlines the framework for ASIC to enforce rules governing the conduct and activities ...

Former UniSuper chief appointed to CSLR board

ANDREW MCKEAN  |  TUESDAY, 16 JAN 2024
... steps into the CSLR board role effective immediately, succeeding June Smith from the Australian Financial Complaints Authority (AFCA). O'Sullivan, a veteran in the financial services industry with over 40 years' experience, was previously chief executive ...

Bragg proposes super fund reforms to protect retail investors

ANDREW MCKEAN  |  WEDNESDAY, 10 JAN 2024
... super funds to consider the interests of individual investors in major transactions. He noted that the Panel already has authority to protect stakeholders during takeovers and suggested legislative adjustments to enforce a duty of care towards retail ...

AFCA reports unprecedented complaint spike

ANDREW MCKEAN  |  TUESDAY, 9 JAN 2024
The Australian Financial Complaints Authority (AFCA) received a record 102,790 complaints from consumers and small businesses unable to resolve disputes with financial firms in 2023. This marks the first time Australia's financial dispute resolution ...

CSLR estimates $241m to fund backlog of complaints

JAMIE WILLIAMSON  |  TUESDAY, 9 JAN 2024
... Last Resort (CSLR) estimates $241 million will be needed to fund claims lodged with the Australian Financial Complaints Authority (AFCA) between November 2018 and September 2022. The CSLR is set to begin receiving claims in April this year, with an annual ...

AFCA amends consumer compensation caps

KARREN VERGARA  |  TUESDAY, 9 JAN 2024
The Australian Financial Complaints Authority (AFCA) has revised the maximum amount consumers can claim for compensation. As of 1 January 2024, the maximum compensation amount a complainant can apply for is $1.263 million, which was previously $1.085 ...