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Showing 21 - 30 of 189 results for "Australian Financial Complaints Authority"

ASIC strips institutional broker's AFSL

ANDREW MCKEAN  |  THURSDAY, 16 NOV 2023
... 8. As part of the AFSL suspension, JB Markets must continue its membership with the Australian Financial Complaints Authority (AFCA) and uphold its client compensation commitments, including professional indemnity insurance coverage. The institutional ...

E&P settles class action for $16m

KARREN VERGARA  |  WEDNESDAY, 15 NOV 2023
... DASS means that any former clients retain their ability to claim against it before the Australian Financial Complaints Authority (AFCA) and potentially under the Compensation Scheme of Last Resort (CSLR). Former chief Dixon stepped down in mid-2019 amid ...

AFCA consults on advice, MIS compensation

KARREN VERGARA  |  TUESDAY, 7 NOV 2023
The Australian Financial Complaints Authority is seeking feedback on how it should determine compensation that involves financial advice and managed investment schemes (MIS). This includes how AFCA should determine compensation for investors affected ...

Dispute resolution failures land TelstraSuper in Federal Court

KARREN VERGARA  |  MONDAY, 6 NOV 2023
... It 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
... customer 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 ...

ASFA names acting chief, chair

KARREN VERGARA  |  WEDNESDAY, 4 OCT 2023
... chair. 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 ...

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
... have not 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 ...

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 ...