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Showing 31 - 40 of 66 results for "Internal Dispute Resolution"

AFCA consults on funding

ELIZABETH MCARTHUR  |  THURSDAY, 10 MAR 2022
... chief operating officer Justin Untersteiner said. "Our user-pays approach incentivises firms to use internal dispute resolution to decrease complaints to AFCA. Firms can absolutely significantly reduce their fees and charges through improvements to their ...

AFCA must improve transparency: Hume

KARREN VERGARA  |  THURSDAY, 25 NOV 2021
... for the authority to provide clearer guidance when an issue should revert to financial firms via an internal dispute resolution. Hume suggested AFCA should continue to publish data on its timeliness and start publishing data on the full range of complaints ...

ASIC launches remediation review

KARREN VERGARA  |  WEDNESDAY, 17 NOV 2021
A new ASIC review will force licensees to improve identifying remediation issues and rectify and compensate consumers sooner. The corporate watchdog launched a new consultation with the advice industry to ensure that AFS licensees act efficiently, honestly ...

Super funds not ready for IDR

ELIZABETH MCARTHUR  |  FRIDAY, 3 SEP 2021
An ASIC survey of super funds about their preparedness for the new enforceable internal dispute resolution (IDR) obligations identified areas of weakness. The specific areas identified by the regulator as needing improvement include attention to governance ...

ASIC outlines corporate plan

ANNABELLE DICKSON  |  THURSDAY, 26 AUG 2021
... superannuation by conducting surveillance of trustees on issues such as claims handling. ASIC plans to focus on internal dispute resolution in superannuation and consult on retirement income calculators and projectors. "ASIC has an important role to ...

ASIC outlines approach to reforms amid uncertainty

JAMIE WILLIAMSON  |  FRIDAY, 13 AUG 2021
... obligations, new restrictions on hawking, the deferred sales model for add-on insurance, and updated internal dispute resolution requirements. Outlining the approach the regulator will take, ASIC chair Joe Longo said it will consider the "context that ...

ASIC spells out IDR reporting

ANNABELLE DICKSON  |  TUESDAY, 20 JUL 2021
The corporate regulator has released the internal dispute resolution (IDR) reporting documents including a data dictionary and glossary. Financial firms across the industry will be the first to test the documents in a pilot later this year in what marks ...

Long way for super complaints overhaul

KANIKA SOOD  |  THURSDAY, 20 MAY 2021
From October 5 super funds must have stronger internal dispute resolution systems but a new ASIC survey shows many are still overshooting the 45-day deadline for resolving member complaints. The new IDR rules were set out in RG 271 introduced last July. ...

Industry fund shifts service functions to Link

KARREN VERGARA  |  WEDNESDAY, 25 NOV 2020
... will transition to Link Group and housed under the Hostplus Service Excellence Centre (HSEC). The internal dispute resolution function will also transfer from Hostplus' trustee office to HSEC. Current service centre staff will transition to Link. ...

APRA reduces ERS reporting for funds

ELIZA BAVIN  |  WEDNESDAY, 21 OCT 2020
... a focus. Funds will no longer have to continue providing information on complaints handled through internal dispute resolution processes, insured member accounts, insurance claims and claim duration. APRA will also stop requiring funds to report on members ...