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Showing 81 - 90 of 340 results for "Victims"

AFCA caps Dixon claimants at 2773

KARREN VERGARA  |  FRIDAY, 12 JUL 2024
Total compensation for Dixon Advisory victims has reached $338.6 million as the Australian Financial Complaints Authority (AFCA) caps the total number of complainants at 2773. The Financial Advice Association Australia (FAAA) calculates that the financial ...

Financial advice profession 'lacks consistent protocols'

ELIZA BAVIN  |  TUESDAY, 25 JUN 2024
... attention and action. "Financial abuse is often challenging to identify, making it a difficult issue to address. Some victims may not even realise they are being abused, especially if the abuse is subtle or if it occurs within families," she said. "We ...

AustralianSuper bears brunt of complaints: AFCA

KARREN VERGARA  |  TUESDAY, 11 JUN 2024
... followed by issues relating to group insurance (35.7%). A minority related to death benefits (11.5%) and pensions (0.89%). Victims of Dixon Advisory continued to file complaints with AFCA as 52 registered their issues and sought compensation. AMP Financial ...

CSLR makes inaugural payments

KARREN VERGARA  |  TUESDAY, 11 JUN 2024
The Compensation Scheme of Last Resort (CSLR) made its first payments to four victims totalling more than $360,000, three of which related to bad financial advice. One payout of about $145,000 related to inappropriate personal financial advice provided ...

Broken promises leave survivors in the lurch

ANDREW MCKEAN  |  TUESDAY, 4 JUN 2024
More than a year on from a Treasury consultation on giving victims of child sexual abuse access to their abuser's superannuation for compensation purposes, little headway has been made. At the same time, experts say the government's proposals ...

AFCA to expel Dixon Advisory

KARREN VERGARA  |  THURSDAY, 30 MAY 2024
... licence in 2023, it was required to be an AFCA member until at least 8 April 2024. This was also the last chance in which victims could register a complaint with AFCA. "The AFCA board will consider any submissions made by Dixon Advisory at its next board ...

Former Queensland adviser struck off permanently

ANDREW MCKEAN  |  WEDNESDAY, 29 MAY 2024
... that his conduct involved people's livelihood. The Judge also highlighted his lack of effort to make restitution to his victims. Under the Corporations Act and the National Consumer Credit Protection Act, ASIC may permanently ban a person from the financial ...

Former director sentenced to seven years in prison

ELIZA BAVIN  |  TUESDAY, 28 MAY 2024
... sentence. Judge Heaton KC said Ali's offending involved a level of sophistication, over a period, exploiting the trust of his victims, and that his dishonesty contributed to particularly devastating financial positions for those victims. ASIC said Ali ...

AFCA finds more Dixon Advisory victims

KARREN VERGARA  |  FRIDAY, 10 MAY 2024
The Australian Financial Complaints Authority (AFCA) added 544 more Dixon Advisory-specific victims to total 2492 complaints at the end of April, which will further exacerbate the costs and levy financial advisers must pay. The Financial Advice Association ...

AFCA and CSLR sign MoU

ELIZA BAVIN  |  THURSDAY, 9 MAY 2024
... and cooperation will be important in effectively discharging our responsibilities." Berry said: "For the CSLR to support victims of financial misconduct, it is vital we have clear and transparent procedures in place with AFCA to support effective and ...