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Showing 61 - 70 of 312 results for "AFCA"

InterPrac hit with $22m in AFCA complaints

KARREN VERGARA  |  FRIDAY, 8 AUG 2025
... InterPrac Financial Planning is facing $22 million worth of complaints lodged with the Australian Financial Complaints Authority (AFCA) for its advisers' role in the collapse of the Shield Master Fund and First Guardian Master Fund. Sequoia said ...

Investments, advice complaints jump 18%

KARREN VERGARA  |  WEDNESDAY, 23 JUL 2025
... Fund, First Guardian Master Fund and Brite Advisors. This is according to the Australian Financial Complaints Authority (AFCA), which took in a total of 4193 submissions for the period. There was a whopping 95% rise in complaints involving SMSFs to 1323 ...

AFCA urges adviser clarity on SMSF wholesale investor test

KARREN VERGARA  |  MONDAY, 23 JUN 2025
The Australian Financial Complaints Authority (AFCA) is urging financial advisers to gain clarity and better understanding on whether the wholesale investor test applies when advising SMSFs. Even if SMSF trustees have extensive investment experience ...

Firms rebuffing AFCA determinations should be named: FAAA, professional bodies

KARREN VERGARA  |  TUESDAY, 17 JUN 2025
... Association Australia (FAAA) and four other professional bodies are urging the Australian Financial Complaints Authority (AFCA) to name and shame financial firms that fail to follow through on a determination as more than 60 have failed to do so. The ...

ASIC cancels Financial Services Group Australia's AFSL

KARREN VERGARA  |  MONDAY, 16 JUN 2025
... its AFSL is now cancelled, ASIC specified that FSGA must remain a member of the Australian Financial Complaints Authority (AFCA) and maintain professional indemnity insurance until 4 June 2026.

ASIC reads the riot act to the super industry: Longo

ANDREW MCKEAN  |  FRIDAY, 13 JUN 2025
... Longo said "and importantly" it was a large increase in complaints lodged with the Australian Financial Complaints Authority (AFCA) that led to a review in the first place. "All this points to the cold hard truth that super trustees have to get a grip ...

Life insurers report another profitable quarter

KARREN VERGARA  |  FRIDAY, 30 MAY 2025
... been a major, systemic issue for superannuation funds and insurers. The Australian Financial Complaints Authority's (AFCA) latest Systemic Issues Insights Report found the claims-handling process is tarred by delays, miscommunication, and inconsistent ...

AFCA looks to expand jurisdiction over receiving banks in scams

MATTHEW WAI  |  TUESDAY, 20 MAY 2025
The Australian Financial Complaints Authority (AFCA) is opening public consultation on a string of governance changes, with a key focus on expanding its jurisdiction to include receiving banks in scam complaints. Following an engagement with an external ...

ASIC cancels licence of Brite Advisors

ANDREW MCKEAN  |  MONDAY, 5 MAY 2025
... 29, after the CSLR paid $21,888 to a client who'd won a complaint through the Australian Financial Complaints Authority (AFCA). The firm hadn't complied with AFCA's determination, issued in September last year. Brite's local licence cancellation comes ...

Rest details internal program to reform death benefit processes

ANDREW MCKEAN  |  FRIDAY, 2 MAY 2025
... 8% of claims within 90 days - the lowest rate among the trustees assessed. The Australian Financial Complaints Authority (AFCA) considers three months a reasonable timeframe for finalising straightforward death benefit claims. The review also showed ...