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Showing 21 - 30 of 238 results for "Ombudsman"

The tax system is being weaponised to inflict abuse, ombudsman says

ANDREW MCKEAN  |  THURSDAY, 3 APR 2025
... impacts that can be "devastating and long-lasting" to survivors and their families, according to a report by the Tax Ombudsman. The report, which was created because "more needs to be done" to understand how the tax system is being weaponised and what ...

CSLR costs driven by poor advice: AFCA

ELIZA BAVIN  |  TUESDAY, 1 APR 2025
The Australian Financial Complaints Authority (AFCA) lead ombudsman, investments and advice Shail Singh has told financial advisers that poor practices are the main contributor to the soaring costs of the Compensation Scheme of Last Resort (CSLR). "It's ...

AFCA chief operating officer departs

ELIZA BAVIN  |  THURSDAY, 30 JAN 2025
... am glad that another national, for-purpose organisation will benefit from his experience and leadership," AFCA chief ombudsman and chief executive David Locke said. Untersteiner joined the then one-year-old AFCA as chief operating officer in December ...

AFCA completes independent review of operations

ELIZA BAVIN  |  MONDAY, 9 DEC 2024
... response to 13 recommendations of the 2021 Independent Review of AFCA undertaken by Treasury, was led by deputy chief ombudsman June Smith. "We are proud to share the outcomes of this transformative program. This is a story of how AFCA has matured as ...

Half of advice, super complaints result in no remedy

ELIZA BAVIN  |  WEDNESDAY, 4 DEC 2024
... complaints in Australia and enhancing understanding of the complaints environment in financial services," AFCA chief ombudsman David Locke said. "We endorse ASIC's message encouraging firms to foster a positive complaints management culture that delivers ...

'But for' compensation methodology unfair: FAAA

KARREN VERGARA  |  FRIDAY, 29 NOV 2024
... Balanced fund, for example'. That's where the anger is." At a separate session that touched on the topic, lead ombudsman for investments and advice at the Australian Financial Complaints Authority (AFCA) Shail Singh explained the reasoning behind ...

AI no silver bullet for advice process, documentation: Experts

KARREN VERGARA  |  FRIDAY, 29 NOV 2024
... way to avoid the fact that your contact with the client is something you have to do face to face or via video." Lead ombudsman for investment and advice at the Australian Financial Complaints Authority (AFCA) Shail Singh told delegates that he has not ...

Super complaints rise in FY24: AFCA

ELIZA BAVIN  |  THURSDAY, 31 OCT 2024
AFCA's Annual Review revealed the ombudsman service received a record 104,861 complaints from consumers and small businesses in 2023-24, up 8% on the year before. Of those, AFCA received 7325 superannuation complaints, a 5% increase from the previous ...

Advisers must prioritise Conflicts Priority Rule: AFCA

KARREN VERGARA  |  MONDAY, 28 OCT 2024
... financial advisers of their responsibilities to manage conflicts of interest under the Conflicts Priority Rule. AFCA senior ombudsman for investments and advice Alex Sidoti said the Conflicts Priority Rule under 960 1J of the Corporations Act has become ...

AFCA urges super trustees to improve processes

ELIZA BAVIN  |  TUESDAY, 13 AUG 2024
... superannuation fund members. "That's pleasing - but not a reason for complacency by trustees or fund members," AFCA lead ombudsman, superannuation, Heather Gray said. "Scam-related complaints in super may be small in number but the average loss claimed ...