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Showing 41 - 50 of 238 results for "Ombudsman"

AFCA reports unprecedented complaint spike

ANDREW MCKEAN  |  TUESDAY, 9 JAN 2024
... volume of complaints escalated to AFCA has been increasing at an unsustainable rate," said AFCA chief executive and chief ombudsman David Locke. "Scam-related complaints to AFCA have nearly doubled between 2022 and 2023. They continue to be of great ...

AFCA secures $1.2bn in refunds

CASSANDRA BALDINI  |  TUESDAY, 21 NOV 2023
... pointed out that 69% of its financial firm members have not received any complaints. AFCA chief executive and chief ombudsman David Locke congratulated the 70% of scheme members that have never had a complaint. "While we will always point out areas of ...

AFCA tightens wholesale investor remit

KARREN VERGARA  |  FRIDAY, 17 NOV 2023
... wholesale clients following feedback from a Treasury independent review that highlights changes to two categories, AFCA lead ombudsman Shail Singh told the Member Forum this morning. Chapter 7 of the Corporations Act looks at whether an investor is retail ...

ASIC renews leadership team

CHLOE WALKER  |  FRIDAY, 18 AUG 2023
... O'Shea has been appointed as senior executive leader, enforcement inquiries and compliance. He joins from the Fair Work Ombudsman with over 10 years' experience as an enforcement regulator. Within the regulation and supervision team, senior executive ...

Advisers lacking PII sidestep AFCA rulings

KARREN VERGARA  |  FRIDAY, 28 JUL 2023
... non-compliance. While this is not a high portion, more worrying is that the instances are prevalent in financial advice, AFCA lead ombudsman for investments and advice Shail Singh told yesterday's PritchittBland end of financial year event. The lack ...

AMP loses BOLR changes class action

KARREN VERGARA  |  WEDNESDAY, 5 JUL 2023
... of our members are just shattered, essentially. It's taken a long time, they were hoping that the Small Business Ombudsman would be able to assist, and that AMP would be reasonable," he said at the time. "For many of them, it's been both physically ...

Suncorp wage scandal comes to a head

ANDREW MCKEAN  |  FRIDAY, 9 JUN 2023
Suncorp has signed an Enforceable Undertaking with the Fair Work Ombudsman and reimbursed its staff with a back-payment of $32 million, inclusive of interest and superannuation. Suncorp underpaid nearly 16,000 employees between May 2014 and March 2022. ...

AFCA appoints lead ombudsman, investments and advice

CHLOE WALKER  |  TUESDAY, 9 MAY 2023
... 16 months, Shail Singh has officially been appointed as the Australian Financial Complaints Authority's (AFCA's) lead ombudsman, investments and advice. Singh was appointed ombudsman when AFCA opened its doors in 2018, before becoming senior ombudsman ...

AFCA chief to serve second term

JAMIE WILLIAMSON  |  THURSDAY, 13 APR 2023
David Locke has been reappointed as chief executive and chief ombudsman of the Australian Financial Complaints Authority, as the body marks $1 billion in compensation delivered to consumers since its inception. Locke will serve a second five-year term ...

Advice complaints decelerate: AFCA

KARREN VERGARA  |  WEDNESDAY, 8 MAR 2023
... Putting DASS complaints aside, there were 483 complaints related to financial advice, down 47% from 2021, AFCA acting lead ombudsman investments and advice Shail Singh told the annual AIA Adviser Summit. Several key issues have emerged from complaints ...