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

Search Results

Showing 11 - 20 of 238 results for "Ombudsman"

'No benefit in switching super': AFCA finalises FSGA lead decision

RIDDHIMA TALWANI  |  TUESDAY, 27 JAN 2026
... their best interests and provide appropriate, well supported financial advice. That did not happen here," AFCA lead ombudsman investments and advice Shail Singh said. Singh noted that the adviser did not make adequate inquiries into the complainant's ...

MWL complainants given $100k in lead decision outcome

MATTHEW WAI  |  MONDAY, 19 JAN 2026
... reviews for Financial Services Group Australia, United Global Capital and Next Generation Advice are ongoing, and the ombudsman will continue to issue updates.

AFCA streamlines approach to over 1800 Shield, First Guardian complaints

MATTHEW WAI  |  MONDAY, 22 DEC 2025
... month, the number of complaints filed in relation to the collapsed schemes has increased to more than 1800, AFCA lead ombudsman investments and advice Shail Singh said in the update. Hence, adopting a lead decision approach is needed to resolve large ...

1659 First Guardian, Shield complaints reach AFCA

KARREN VERGARA  |  MONDAY, 8 DEC 2025
... the collapse of the two funds. The number of AFCA complaints grew by 100 from early November. At the time, AFCA lead ombudsman for investments and advice Shail Singh said while 1559 was a big number, he was concerned that AFCA had not received more given ...

ASIC labels digital assets as financial products

MATTHEW WAI  |  THURSDAY, 30 OCT 2025
... from the AFCA external dispute resolution scheme, despite some having chosen to become voluntary members. AFCA lead ombudsman for investment and advice Shail Singh said the updated guidance pledges better consumer protections when crypto and digital ...

Complaints still too high: AFCA annual review

ANGELIQUE MINAS  |  THURSDAY, 23 OCT 2025
... respond to a request for assistance' maintained its position as top five complaint types for the sector. AFCA chief ombudsman and chief executive David Locke said: "We know many Australians continue to feel financially stretched and stressed - and behind ...

Leaders push for overseas skills recognition

ELIZA BAVIN  |  MONDAY, 18 AUG 2025
... include establishing a national governance system for all overseas skills and qualifications recognition, including an Ombudsman with regulatory power to provide independent oversight and transparency; creating a more joined-up system that links skills ...

AFCA urges adviser clarity on SMSF wholesale investor test

KARREN VERGARA  |  MONDAY, 23 JUN 2025
... experience, an SMSF is still regarded as a retail investor if the fund's asset base is below $10 million, AFCA lead ombudsman Shail Singh and senior ombudsman for investments and advice Patrick Hartney say. "AFCA applies the law as it stands. This ...

AFCA looks to expand jurisdiction over receiving banks in scams

MATTHEW WAI  |  TUESDAY, 20 MAY 2025
... consideration among the changes include the consideration of a receiving bank in a scam transaction, which will allow the ombudsman to meet its new authorisation condition that "enables AFCA to investigate and consider scams involving mule accounts and ...

UGC's AFCA membership to cease

KARREN VERGARA  |  MONDAY, 7 APR 2025
... should have had and therefore does not account for potential gains or losses in other, suitable investments," AFCA lead ombudsman Shail Singh and senior ombudsman for investments and advice Alex Sidoti said. "We do use this approach, but rarely. If there ...