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Search ResultsShowing 1 - 10 of 97 results for "AFCA"
Review of AFCA underway
ELIZABETH MCARTHUR  |  MONDAY, 22 FEB 2021
... Financial Complaints Authority, asking for stakeholder feedback. The review will be conducted by Treasury, aiming to test whether AFCA is operating effectively and achieving its objectives. The terms of reference consider how AFCA is delivering against ...
AFCA chair under fire
ELIZABETH MCARTHUR  |  THURSDAY, 18 FEB 2021
... far from over, and now scrutiny has turned to executive chair Helen Coonan - with some suggesting she should resign from AFCA before her term as chair ends in May. Today Crown announced that Coonan will be paid an extra $1.8 million, after stepping in ...
AFCA forced into rule change
ELIZABETH MCARTHUR  |  FRIDAY, 22 JAN 2021
... a court decision. The NSW Supreme Court ruled in the case of DH Flinders v Australian Financial Complaints Authority that AFCA's rules regarding its jurisdiction over authorised representatives must be clearer. The case related to AFCA's jurisdiction ...
ASIC cancels two AFSLs
ELIZA BAVIN  |  MONDAY, 30 NOV 2020
... Selectinvest failed to maintain its external dispute resolution membership with the Australian Financial Complaints Authority (AFCA), and had failed to lodge its annual financial and audit reports since 2017. "ASIC expects AFS licensees to do all things ...
AFCA pivots to member experience
ANNABELLE DICKSON  |  MONDAY, 23 NOV 2020
The Australian Financial Complains Authority (AFCA) is placing a higher emphasis on member experience following an increase in its membership base, two years on from its launch. In its first two years, AFCA's membership has grown to 40,000 members across ...
Court rules insurers to cover COVID-19
ELIZABETH MCARTHUR  |  THURSDAY, 19 NOV 2020
... for consumers. Insurers cannot get out of paying claims by referring to outdated legislation." The test case was brought by AFCA on behalf of a tourist park business that experienced interruption due to the ongoing COVID-19 pandemic. The Insurance Council ...
RC recommendations closer to legislation
KARREN VERGARA  |  FRIDAY, 13 NOV 2020
... also handle claims efficiently, honestly and fairly, and must have an internal despite resolution process and be a member of AFCA. APRA and ASIC will now have new powers. ASIC's role in superannuation will include protecting consumers from harm and ...
Financial services complaints rise
ELIZA BAVIN  |  MONDAY, 9 NOV 2020
... about financial services have almost doubled since last year, according to the Australian Financial Complaints Authority (AFCA). In its yearly report, AFCA revealed complaints had risen to 80,546 from 47,223, which is a 14% increase in the monthly average ...
817 super complaints during COVID-19
ELIZABETH MCARTHUR  |  WEDNESDAY, 23 SEP 2020
... COVID-19 can be seen in the spikes in complaints relating to travel insurance and early access to superannuation in particular," AFCA chief executive and chief ombudsman David Locke said. "With the early access to superannuation, complaints initially ...
End of Super Complaints Tribunal nears
ELIZABETH MCARTHUR  |  MONDAY, 21 SEP 2020
... Complaints Tribunal (SCT) will cease to exist at the end of this year, with the Australian Financial Complaints Tribunal (AFCA) seeking to handle any remaining complaints currently with the SCT. AFCA has opened consultation on changing its rules to allow ...
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