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Showing 21 - 30 of 200 results for %22Australian Financial Complaints Authority%22

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 ...

Treasury names new ASIC commissioners

KARREN VERGARA  |  FRIDAY, 25 AUG 2023
... member of the panel for the Ramsay Review, which recommended the establishment of the Australian Financial Complaints Authority and Compensation Scheme of Last Resort. Constant has been with CBA for nearly three years and previously was in a similar ...

Westpac reports $1.8bn net profit, rise in stressed assets

ANDREW MCKEAN  |  MONDAY, 21 AUG 2023
... compensation of up to $150,000 to consumers who have an unpaid determination from the Australian Financial Complaints Authority relating to personal financial advice, credit intermediation, securities dealing or credit provisions. It will be funded by ...

ASIC takes Dixon Advisory director to court

KARREN VERGARA  |  FRIDAY, 4 AUG 2023
... they 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.