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Showing 21 - 30 of 194 results for "AFCA"

Dispute resolution failures land TelstraSuper in Federal Court

KARREN VERGARA  |  MONDAY, 6 NOV 2023
... did not inform 22 members that they had the right to take their complaint to the Australian Financial Complaints Authority (AFCA). ASIC further alleges that TelstraSuper failed to operate efficiently, honestly and fairly when it failed to comply with ...

Life insurance complaints drop 24%

KARREN VERGARA  |  WEDNESDAY, 25 OCT 2023
... claims-handling delays and insurers peddling misleading information. According to the Australian Financial Complaints Authority (AFCA), the total number of complaints has fallen 24% year on year to 1468, largely due to the Aboriginal Community Benefit ...

Super fund, insurer admin issues draw AFCA complaints

KARREN VERGARA  |  MONDAY, 23 OCT 2023
... complaints and, in some cases, led to large compensation payouts, according to the Australian Financial Complaints Authority (AFCA). AFCA's latest update details the systemic issues that plague financial services firms but does not name the organisations ...

ASFA names acting chief, chair

KARREN VERGARA  |  WEDNESDAY, 4 OCT 2023
... Dransfield is currently a non-executive director of Hollard Insurance and the Australian Financial Complaints Authority (AFCA). He has been both a board member and chair of the Insurance Council of Australia and the Insurance Council of New Zealand and ...

NextGen Financial Group forced into liquidation

KARREN VERGARA  |  MONDAY, 25 SEP 2023
After ignoring an Australian Financial Complaints Authority (AFCA) determination, which was then escalated to the Federal Court, NextGen Financial Group is now in the process of winding up. WJ & V Drakoulis Super, the trustees of the SMSF that sued ...

Financial hardship neglect lands Westpac in court

KARREN VERGARA  |  TUESDAY, 5 SEP 2023
... agreed. Banks must also inform customers that they have the right to go to the Australian Financial Complaints Authority (AFCA) if they want to challenge their decision. ASIC alleges Westpac breached the code between 4 September 2017 and 20 March 2022 ...

Sequoia liquidates Libertas Financial Planning

KARREN VERGARA  |  FRIDAY, 1 SEP 2023
... specifically, Sequoia said it is "currently acting on several matters referred to the Australian Financial Complaints Authority (AFCA) relating to the provision of financial services to its retail clients". "The directors have assessed complaints for ...

ASIC takes Dixon Advisory director to court

KARREN VERGARA  |  FRIDAY, 4 AUG 2023
... serve on the boards of multiple companies in a corporate group," said Court. The Australian Financial Complaints Authority (AFCA) counted 1726 Dixon Advisory-related complaints at the end of June 2023.

Mayfair 101 calls for senate inquiry into ASIC

JAMIE WILLIAMSON  |  WEDNESDAY, 2 AUG 2023
... 570 lenders, mostly retirees, who had subscribed to $211 million of debt instruments. Mayfair at this time had no ASIC or AFCA complaints, all lenders were paid up to date and on time, the group had obtained formal legal review of its advertising, and ...

Advisers lacking PII sidestep AFCA rulings

KARREN VERGARA  |  FRIDAY, 28 JUL 2023
... advice firms are "problematically" sidestepping compensation payments after the Australian Financial Complaints Authority (AFCA) hands down a decision, using the excuse that they do not have professional indemnity insurance (PII). Out of 5400 decisions ...