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Showing 81 - 90 of 204 results for %22Australian Financial Complaints Authority%22

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 ...

Major legislations hit parliament

KARREN VERGARA  |  FRIDAY, 29 OCT 2021
... intermediation, securities dealing, and credit provision should their case fail with the Australian Financial Complaints Authority. Federal treasurer Josh Frydenberg wants CSLR to commence as soon as possible so that it can start paying claims from 1 ...

AFCA appoints senior ombudsmen

JAMIE WILLIAMSON  |  TUESDAY, 26 OCT 2021
... 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 senior ombudsmen to work closely with the ...

Better Advice Bill gets green light

KARREN VERGARA  |  FRIDAY, 22 OCT 2021
The landmark Better Advice Bill, which introduces a new disciplinary body, passed the senate overnight. Under the Financial Sector Reform (Hayne Royal Commission Response-Better Advice) Bill 2021 (Better Advice Bill), from 1 January 2022, the Financial ...

Big four bank complaints drop

ANNABELLE DICKSON  |  THURSDAY, 7 OCT 2021
... 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 the total 70,510 received in 2020/21 ...

Industry calls for expanded CSLR

ANNABELLE DICKSON  |  WEDNESDAY, 6 OCT 2021
... compensation for all financial products and services that fall under the jurisdiction of the Australian Financial Complaints Authority. As it stands, the draft legislation excludes managed investment schemes and the funeral expenses industry which means ...

IDII pitfalls advisers should avoid

KARREN VERGARA  |  WEDNESDAY, 22 SEP 2021
... a panel of experts at the Association of Financial Advisers 2021 Evolve Conference, Australian Financial Complaints Authority lead ombudsman for investments and advice Natalie Cameron told advisers about her experiences with IDII complaints, particularly ...

FSC suggests CSLR improvements

KARREN VERGARA  |  MONDAY, 20 SEP 2021
... advice failures. The proposed design of the CSLR does little to reduce the risk of unpaid Australian Financial Complaints Authority determinations and simply shifts the cost, via levies, to financial services companies that have done nothing wrong, the ...

Former adviser banned after super theft

JAMIE WILLIAMSON  |  FRIDAY, 17 SEP 2021
... as part of an investigation that began in 2019 after he refused to cooperate with the Australian Financial Complaints Authority following client complaints. In May he was sentenced to six years' prison with a non-parole period of four years. He was found ...

Unlicensed crypto platforms robbing investors

KARREN VERGARA  |  FRIDAY, 20 AUG 2021
... not protected if the platform fails or is hacked, and cannot make a complaint with the Australian Financial Complaints Authority. ASIC said it understands that some unlicensed overseas platforms are taking or have already taken steps to prevent Australian ...