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Showing 51 - 60 of 238 results for "Ombudsman"

Court ruling reiterates need to comply with AFCA

CASSANDRA BALDINI  |  WEDNESDAY, 25 JAN 2023
... Capital director Dale Heremaia have been penalised a combined $150,000 for breaching AFCA's obligations. AFCA chief ombudsman David Locke welcomed the court's ruling and said it recognises the need for financial firms to cooperate with it. "The vast ...

AFCA secures $900m in compensation

CASSANDRA BALDINI  |  MONDAY, 21 NOV 2022
Australians have taken home almost $900 million in 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 ...

No surprise advice industry fears ASIC: Panel

CASSANDRA BALDINI  |  FRIDAY, 23 SEP 2022
... director Nathan Jacobsen, Australian Advice Network chief executive Paul Forbes and AFCA investments and advice acting lead ombudsman Shail Singh. Addressing the audience at AFA Thrive, Anderson said former minister for financial services and superannuation ...

Commonwealth Bank profit nears $10bn

CASSANDRA BALDINI  |  WEDNESDAY, 10 AUG 2022
... over BBSW, another related to its New Zealand subsidiary ASB Bank. It is also working on a matter with the Fair Work Ombudsman and other inquiries with APRA and ASIC.

Natalie Cameron named AFCA lead ombudsman

ANDREW MCKEAN  |  THURSDAY, 7 JUL 2022
The Australian Financial Complaints Authority has appointed Natalie Cameron as its new lead ombudsman for banking and finance. Cameron moves into the position from her current appointment as lead ombudsman for investments and advice at AFCA. She has ...

AFCA adopts user pays funding model

CASSANDRA BALDINI  |  TUESDAY, 31 MAY 2022
... extensive consultation process with users of the external dispute resolution scheme and peak industry bodies. AFCA's chief ombudsman and chief executive David Locke said the feedback received was overwhelmingly positive. "Members welcomed the fact the ...

AFCA consults on funding

ELIZABETH MCARTHUR  |  THURSDAY, 10 MAR 2022
... would more accurately reflect their usage, addressing cross-subsidisation of larger firms by smaller members of the ombudsman scheme. "It's a fair, transparent and equitable model that is supported by strong data and modelling," AFCA chief ombudsman ...

Advisers call out regulation backflip

KARREN VERGARA  |  FRIDAY, 4 MAR 2022
... overlooked consideration is the consumer. "How is a nuisance complaint to be treated? Under current requirements, the ombudsman will always allow the client to decide whether to continue with the complaints process, regardless of whether there is any ...

AFCA must improve transparency: Hume

KARREN VERGARA  |  THURSDAY, 25 NOV 2021
... a difficult operating environment" and that there are no systemic issues with its independence and operations, chief ombudsman and chief executive David Locke said that results overall show a positive report card. He acknowledged that there are areas ...

AFCA launches new platform to improve dispute resolution

CHLOE WALKER  |  FRIDAY, 19 NOV 2021
... (AFCA) today launched a new digital platform to help financial services firms better manage disputes that reach the ombudsman service. The new AFCA member benchmarking dashboard is an interactive platform for financial firms that provides near real-time ...