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Showing 31 - 40 of 189 results for "Australian Financial Complaints Authority"

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.

Advisers lacking PII sidestep AFCA rulings

KARREN VERGARA  |  FRIDAY, 28 JUL 2023
... Financial 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 ...

ASIC cancels FTX Australia's licence

CASSANDRA BALDINI  |  WEDNESDAY, 19 JUL 2023
... cancellation has no effect on requirements for FTX Australia to continue as a member of the Australian Financial Complaints Authority, and to have arrangements for compensating retail clients. FTX entered voluntary administration on November 11, and ...

CSLR finally passes senate

KARREN VERGARA  |  FRIDAY, 23 JUN 2023
... dealing and/or credit. It enables consumers who have an unpaid determination from the Australian Financial Complaints Authority to be compensated up to $150,000. Consumers will be able to lodge claims for compensation from April 2024, with the first ...

Former Capstone adviser in EU with ASIC

JAMIE WILLIAMSON  |  THURSDAY, 22 JUN 2023
... notify all his clients of the remediation program and their right to complain to the Australian Financial Complaints Authority if any issues cannot be resolved with Capstone, ASIC said. Prior to Capstone, Blackaby was licensed through AIW Dealer Services ...

Large AFSLs lead advice complaints: AFCA

KARREN VERGARA  |  THURSDAY, 22 JUN 2023
Financial advisers from large aligned AFSL groups bear the brunt of complaints, according to the Australian Financial Complaints Authority's data, with several AMP and Insignia Financial practices leading the pack. Modelling of the AFCA data shows ...

Martin Fahy to step down as ASFA chief

CASSANDRA BALDINI  |  FRIDAY, 26 MAY 2023
... tenure." 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 ...

AFCA outlines systemic issues in wealth management

ANDREW MCKEAN  |  TUESDAY, 23 MAY 2023
The Australian Financial Complaints Authority (AFCA) has shed light on what it considers systemic shortcomings in the superannuation, investment, and financial advice industries. The AFCA Systemic Issues Insights report identified multiple instances ...