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Showing 61 - 70 of 243 results for "OMB"

AFCA must improve transparency: Hume

KARREN VERGARA  |  THURSDAY, 25 NOV 2021
A review of the Australian Financial Complaints Authority found that it needs to be more transparent when dealing with complainants and providing the reasoning behind its decisions. Senator Jane Hume's final report made 14 recommendations, all of which ...

AFCA launches new platform to improve dispute resolution

CHLOE WALKER  |  FRIDAY, 19 NOV 2021
The Australian Financial Complaints Authority (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 ...

Unpaid super tops $5bn per year: ISA

JAMIE WILLIAMSON  |  THURSDAY, 28 OCT 2021
Latest analysis by Industry Super Australia shows about $5 billion in super went unpaid in the 2018-19 financial year, owed to about three million workers. On average, Australian workers lose about $1700 in superannuation each year, ISA said, amounting ...

AFCA appoints senior ombudsmen

JAMIE WILLIAMSON  |  TUESDAY, 26 OCT 2021
In what is a newly created role at the industry body, internal promotions have seen the appointment of seven senior ombudsmen. The Australian Financial Complaints Authority has created the new role to strengthen its dispute resolution efforts, with ...

CBA completes review, sued by FWO

ANNABELLE DICKSON  |  TUESDAY, 12 OCT 2021
Commonwealth Bank finalised its three-year action plan by implementing recommendations from a prudential inquiry to improve its governance and culture. At the same time, it has been slammed with court proceedings for underpaying staff over $16 million. ...

Big four bank complaints drop

ANNABELLE DICKSON  |  THURSDAY, 7 OCT 2021
The number of consumer complaints received in relation to the big four banks has fallen over the last financial year, the Australian Financial Complaints Authority (AFCA) said. Complaints about Westpac, ANZ, NAB and Commonwealth Bank fell 7% out of ...

IDII pitfalls advisers should avoid

KARREN VERGARA  |  WEDNESDAY, 22 SEP 2021
Financial advisers must beware the pitfalls of problematic individual disability income insurance products and avoid circumstances that could land them in trouble with the financial complaints body. As part of a panel of experts at the Association of ...

Bitcoin fund hires from IFM

ELIZABETH MCARTHUR  |  THURSDAY, 5 AUG 2021
Monochrome Asset Management has appointed Derek Vladimir Henningsen, as head of legal and compliance. He was most recently at IFM Investors as head of fund and mandate compliance. Henningsen has also worked at Bell Asset Management, the Australian Financial ...

AFCA weeds out phony complaints

ELIZABETH MCARTHUR  |  FRIDAY, 30 JUL 2021
The Australian Financial Complaints Authority (AFCA) has made changes to its procedures to weed out complaints where the consumer didn't really suffer any financial harm. AFCA received feedback from financial institutions, particularly small to medium ...

Six new ombudsmen at AFCA

KARREN VERGARA  |  WEDNESDAY, 28 JUL 2021
The Australian Financial Complaints Authority welcomed six ombudsmen to the fold, three of which came from the financial services sector. ANZ head of legal, dispute resolution group Louise McAuliffe, and Westpac practice leader for business lending ...