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Showing 51 - 60 of 186 results for "Australian Financial Complaints Authority"

ASIC suspends, cancels AFSLs

CHLOE WALKER  |  WEDNESDAY, 7 DEC 2022
... follows the ban of its managing director Peter Gribble for failing to pay $2.5 million in Australian Financial Complaints Authority (AFCA) determinations. According to ASIC, QFML also didn't have the required professional indemnity insurance coverage. ...

DASS clients pushed to accept paltry recoupment

ANDREW MCKEAN  |  FRIDAY, 2 DEC 2022
... would be $3048 and the worst $86. Directors attributed the company's failure to the Australian Financial Complaints Authority (AFCA) confirming that it would continue to make adverse findings in relation to claims of Dixon Advisory clients and because ...

AFCA secures $900m in compensation

CASSANDRA BALDINI  |  MONDAY, 21 NOV 2022
... compensation and refunds since the ombudsman service opened its doors in November 2018. The Australian Financial Complaints Authority (AFCA) said it's also handled more than 300,000 disputes, an average of 200 complaints per day, over the past four ...

Evidence of poor LRBA advice: Report

ANDREW MCKEAN  |  THURSDAY, 17 NOV 2022
... borrowing arrangements (LRBAs) that could put their retirement savings at risk. The Australian Financial Complaints Authority (AFCA) and ASIC remain concerned about inappropriate advice to SMSFs. ASIC identified concerns about SMSFs taking advice encouraging ...

Former DASS clients flood AFCA with complaints

JAMIE WILLIAMSON  |  TUESDAY, 8 NOV 2022
The Australian Financial Complaints Authority has received more than 1600 complaints from former clients of Dixon Advisory and Superannuation Services, warning complainants to expect delays in dealing with their case. On August 3, ASIC publicly urged ...

AFSL boss banned by ASIC

CASSANDRA BALDINI  |  TUESDAY, 11 OCT 2022
... Funds Management managing director Peter Gribble for failing to pay $2.5 million in Australian Financial Complaints Authority determinations. Gribble is banned from controlling a financial services business or being an officer of one after two companies ...

FPA seeks broader scope for CSLR

CHLOE WALKER  |  MONDAY, 10 OCT 2022
... broadening the scope of the scheme to include the entirety of the jurisdiction of the Australian Financial Complaints Authority (AFCA)." Such amendments would ensure equity for industry and consumers as well as long-term sustainability for the scheme ...

Tech providers support QAR SOA proposals

CASSANDRA BALDINI  |  THURSDAY, 29 SEP 2022
... to lead to greater risk of poor documentation and a future increased workload for the Australian Financial Complaints Authority (AFCA)," it said. IMAP did acknowledge Levy's recognition of the "bureaucratic approach' at ASIC. "Which has resulted ...

Dixon Advisory pays $7m for poor advice

JAMIE WILLIAMSON  |  TUESDAY, 20 SEP 2022
... recently reminded former Dixon Advisory clients to register their complaints with the Australian Financial Complaints Authority before Dixon Advisory's AFCA membership is cancelled in April 2023.

CSLR legislation tabled, advice sector responds

ANDREW MCKEAN  |  FRIDAY, 9 SEP 2022
... compensation of up to $150,000 to eligible consumers who have a determination from the Australian Financial Complaints Authority (AFCA) relating to personal financial advice, credit intermediation, securities dealing and credit provisions that remains ...