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Showing 1 - 10 of 312 results for "AFCA"

Financial services CSLR Levy hits $198m

MATTHEW WAI  |  THURSDAY, 2 JUL 2026
... tranche represents only around 10% of approximately 3500 complaints submitted to the Australian Financial Complaints Authority (AFCA) in relation to the managed investment schemes. In total, the CSLR has processed 1567 claims, up from 912 in the initial ...

Former Brite Advisors responsible manager banned

VINNY VUCAGO  |  WEDNESDAY, 10 JUN 2026
... the affairs of Brite Advisors, Duffy failed to disclose his employment with the Australian Financial Complaints Authority (AFCA). According to ASIC, the omission indicated a lack of "integrity, honesty and sound judgement". Duffy was employed by AFCA ...

AFCA to update rules on new genetic testing laws

KARREN VERGARA  |  TUESDAY, 2 JUN 2026
The Australian Financial Complaints Authority (AFCA) is proposing to amend its rules in preparation for recent legislative changes on genetic testing protections in life insurance. Treasury Laws Amendment (Genetic Testing Protections in Life Insurance ...

We don't always vote in complainants' favour: AFCA

MATTHEW WAI  |  MONDAY, 1 JUN 2026
The Australian Financial Complaints Authority (AFCA) addressed a crowd of financial advisers at the MDS Self Licensing Summit 2026, busting the myth the ombudsman is always targeting them. Speaking at a discussion panel at last Thursday, AFCA senior ...

Small pocket of failed measures can 'blow the entire business': Anderson

MATTHEW WAI  |  FRIDAY, 29 MAY 2026
... assess each complaint and don't just respond with a template answer." Further, Australian Financial Complaints Authority (AFCA) senior ombudsman Nick Battaerd added he's seen an authorised representative, who was also an adviser, selling non-existent ...

AFCA puts InterPrac determinations on ice

KARREN VERGARA  |  FRIDAY, 29 MAY 2026
The Australian Financial Complaints Authority (AFCA) is pausing all InterPrac Financial Planning-related determinations as court proceedings instigated by the latter are underway. For people affected, the pause in determinations mean their complaints ...

AFCA appoints lead superannuation ombudsman

VINNY VUCAGO  |  MONDAY, 25 MAY 2026
The Australian Financial Complaints Authority (AFCA) has appointed Paul Woodburn as its new lead ombudsman superannuation, succeeding Heather Gray, who had served as lead ombudsman superannuation since 2020. Woodburn commenced in the role on May 25 ...

Financial services failing to provide consistent outcomes: AFCA

MATTHEW WAI  |  FRIDAY, 22 MAY 2026
Latest findings from the Australian Financial Complaints Authority (AFCA) show that despite frameworks existing for consumer hardship, weaknesses arise in how those policies were implemented in practice. The eighth edition of the Systemic Issues Insight ...

Hostplus, AIA lose $1.4m TPD dispute

ELIZA BAVIN  |  THURSDAY, 21 MAY 2026
AFCA has overturned a decision by AIA Australia and Hostplus over a refusal to pay a $1.466 million additional total and permanent disablement (TPD) benefit, despite recognising the member failed to declare an underlying health issue when applying for ...

Data, compliance key to successful technology-enabled advice

KARREN VERGARA  |  WEDNESDAY, 20 MAY 2026
... four checks on client advice per year is a huge risk to the industry." The end of the process culminates in an "ASIC-level, AFCA-level and a licensee-level audit" in pre-providing and post-providing advice to the client, capturing any issue prior to ...
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