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

Search Results

Showing 11 - 20 of 93 results for %22Financial Services Ombudsman%22

AFCA consults on funding

ELIZABETH MCARTHUR  |  THURSDAY, 10 MAR 2022
The Australian Financial Complaints Authority is consulting with financial firms on a new user-pays funding model. Under the proposed model AFCA estimates that 90% of its members would see a positive or neutral impact on total cost and one in five members ...

Advisers call out regulation backflip

KARREN VERGARA  |  FRIDAY, 4 MAR 2022
... harbour provision can potentially be removed. Many in the audience could see through the smoke and mirrors. AIA Financial Services chief executive and managing director Pina Sciarrone told the event that it is incumbent upon the industry to keep the ...

AFCA launches new platform to improve dispute resolution

CHLOE WALKER  |  FRIDAY, 19 NOV 2021
The Australian Financial Complaints Authority (AFCA) today launched a new digital platform to help financial services firms better manage disputes that reach the ombudsman service. The new AFCA member benchmarking dashboard is an interactive platform ...

AFCA weeds out phony complaints

ELIZABETH MCARTHUR  |  FRIDAY, 30 JUL 2021
... any financial harm. AFCA received feedback from financial institutions, particularly small to medium sized financial services businesses, that they were incurring costs dealing with complaints that had no merit and in which no financial harm was done ...

Six new ombudsmen at AFCA

KARREN VERGARA  |  WEDNESDAY, 28 JUL 2021
... Australian Financial Complaints Authority welcomed six ombudsmen to the fold, three of which came from the financial services sector. ANZ head of legal, dispute resolution group Louise McAuliffe, and Westpac practice leader for business lending legal ...

EOFY tips for advisers

KARREN VERGARA  |  WEDNESDAY, 30 JUN 2021
Financial advisers should keep in mind some valuable tax breaks for their businesses as the 2021 financial year comes to a close. H&R Block director of tax communications Mark Chapman told Financial Standard temporary full expensing (TLE) is one tax ...

AFCA names two lead ombudsmen

ANNABELLE DICKSON  |  MONDAY, 31 MAY 2021
... joins from ASIC where she was senior executive leader, insurers. She was previously acting executive director, financial services group and group senior manager - insurance. She started her career in financial services as a senior lawyer at Colonial ...

AFCA welcomes new chair

KARREN VERGARA  |  MONDAY, 17 MAY 2021
... helping industry and thousands of consumers to resolve often intractable disputes. AFCA has worked with the financial services industry to promote best practice." Under Coonan's tenure, AFCA received over 188,000 disputes with over $522 million being ...

Review of AFCA underway

ELIZABETH MCARTHUR  |  MONDAY, 22 FEB 2021
... business have access to timely decisions by AFCA. "The establishment of AFCA represented significant reform of financial services complaints resolution in Australia," AFCA chief ombudsman and chief executive David Locke said. "We are proud of all that ...

AFCA pivots to member experience

ANNABELLE DICKSON  |  MONDAY, 23 NOV 2020
... years on from its launch. In its first two years, AFCA's membership has grown to 40,000 members across the financial services sector with just 2,575 license members receiving a complaint against them. AFCA acting chief ombudsman and chief executive Justin ...