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Showing 11 - 20 of 189 results for "Australian Financial Complaints 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' ...

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 ...

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 ...

CSLR chief executive named

JAMIE WILLIAMSON  |  FRIDAY, 8 DEC 2023
... Meantime, Delia Rickard has been named as a non-executive director. Rickard also sits on the Australian Financial Complaints Authority (AFCA) board as well as that of Super Consumers Australia, Financial Counselling Australia, and the Ecstra Foundation. ...

ASIC forced to pay James Mawhinney's legal costs

JAMIE WILLIAMSON  |  TUESDAY, 28 NOV 2023
... properties in Australia. No Mayfair 101 clients had made a complaint to ASIC or the Australian Financial Complaints Authority at that time. Mawhinney has accused ASIC of pursuing him unfairly, previously stating that the speed at which the investigation ...

AFCA secures $1.2bn in refunds

CASSANDRA BALDINI  |  TUESDAY, 21 NOV 2023
Since its inception, the Australian Financial Complaints Authority (AFCA) has clawed back $1.2 billion in compensation and refunds for more than 400,000 consumers and small businesses. Reaching its fifth year in operation, AFCA explained its efforts ...

AFCA tightens wholesale investor remit

KARREN VERGARA  |  FRIDAY, 17 NOV 2023
It may be tougher for wholesale investors looking to the Australian Financial Complaints Authority to help resolve a dispute as the authority tightens its rules on how it assesses their complaints. AFCA will shortly update its operational guidelines ...