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Showing 61 - 70 of 303 results for "Financial Complaints Authority"

ASIC cancels Financial Services Group Australia's AFSL

KARREN VERGARA  |  MONDAY, 16 JUN 2025
... While 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
... years. 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 ...

$15m crypto scam costs former adviser 10 years

JAMIE WILLIAMSON  |  THURSDAY, 12 JUN 2025
... ongoing. It directed former clients and others impacted by Rogan's conduct to contact the Australian Financial Complaints Authority. According to her LinkedIn, Rogan was a chartered accountant and a Certified Financial Planner. The Financial Advice Association ...

Life insurers report another profitable quarter

KARREN VERGARA  |  FRIDAY, 30 MAY 2025
The life insurance industry appears to have moved past its loss-making years, reporting a $332 million profit at the end of March, new APRA figures show. About $5.7 billion was generated in insurance revenue, marking a 3% rise from the December 2024 ...

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
... April 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 ...

Rest details internal program to reform death benefit processes

ANDREW MCKEAN  |  FRIDAY, 2 MAY 2025
... just 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 ...

AFCA highlights 'pattern of delays' in super

ELIZA BAVIN  |  TUESDAY, 29 APR 2025
The Australian Financial Complaints Authority (AFCA) has released its bi-annual System Issues Insight Report, to address industry practices and reduce consumer complaints. In the first half of 2024-25, 235 matters were reported affecting 187,855 consumers ...

UGC's AFCA membership to cease

KARREN VERGARA  |  MONDAY, 7 APR 2025
The Australian Financial Complaints Authority (AFCA) will expel United Global Capital's (UGC) membership effective May 31. UGC, which is now in liquidation, began providing financial services, including financial advice, in 2017 to retail and sophisticated ...

CSLR costs driven by poor advice: AFCA

ELIZA BAVIN  |  TUESDAY, 1 APR 2025
The Australian Financial Complaints Authority (AFCA) lead ombudsman, investments and advice Shail Singh has told financial advisers that poor practices are the main contributor to the soaring costs of the Compensation Scheme of Last Resort (CSLR). "It's ...