Search ResultsShowing 1 - 10 of 56 results for "AFCA"
ASIC freezes Sydney advisers' assets
ELIZA BAVIN  |  WEDNESDAY, 6 NOV 2019
... investigation in relation to allegations that Mr Hopkins and QWL failed to assist the Australian Financial Complaints Authority (AFCA) to resolve client complaints," the regulator said. ASIC said the orders restrain Hopkins and QWL dissipating or diminishing ...
AFCA appoints chief operating officer
ELIZABETH MCARTHUR  |  MONDAY, 4 NOV 2019
The Australian Financial Complaints Authority (AFCA) has appointed a chief operating officer from the Australian Tax Office. Justin Untersteiner will join AFCA from the start of December. AFCA chief executive and chief ombudsman David Locke said Untersteiner's ...
AFCA delivers $185m in compensation
ELIZABETH MCARTHUR  |  FRIDAY, 1 NOV 2019
... Australian Financial Complaints Authority has delivered $185 million in compensation to consumers in its first year of operation. AFCA received a 40% uptick in complaints compared to previous complaints schemes. About 77% of complaints lodged have been ...
ASIC nudges robo-adviser to shutter
ELIZABETH MCARTHUR  |  FRIDAY, 18 OCT 2019
... who are concerned about advice they received from Plenty Wealth or Plenty Plus can lodge a complaint with Lime FS or with AFCA or obtain independent legal advice. Plenty was a finalist for the Excellence in Wealth and Investment category in the Finnies ...
AFCA gets 1450 complaints a week
ELIZABETH MCARTHUR  |  WEDNESDAY, 16 OCT 2019
... Australian Financial Complaints Authority has received 1450 complaints every week so far this financial year. This number has AFCA on track to beat its previous record. In July, after six months in operation the authority had received just over 35,000 ...
Queensland-based AFSL suspended
ELIZABETH MCARTHUR  |  TUESDAY, 10 SEP 2019
... covered by its licence. Financial Options has since applied for membership with Australian Financial Complaints Authority (AFCA). Financial Options' licence has been suspended until 26 February 2020 - that period should allow time for the firm to lodge ...
AFCA ombudsman addresses adviser concerns
KRISTI CHENG  |  TUESDAY, 10 SEP 2019
AFCA ombudsman Shail Singh has addressed common adviser concerns regarding the authority's introduction of legacy complaints. Speaking at a recent Financial Planning Association of Australia event, Singh said AFCA will apply the standard of the relevant ...
ASIC approves name and shame rules
KARREN VERGARA  |  TUESDAY, 27 AUG 2019
... thing, ASIC said. "It will also enhance transparency and accountability of firms' performance in complaints handling and of AFCA's own decision-making." The move is part of a broader set of reforms aimed at increasing transparency in financial services ...
AFCA looks to expand senior ranks
KRISTI CHENG  |  FRIDAY, 26 JUL 2019
... ombudsmen and senior executives to develop and execute the organisational strategy and initiatives necessary to realise AFCA's vision and strategy. Based in either Sydney or Melbourne, this position has six direct reports and the responsibility for around ...
AFCA delivers $83 million win
ELIZABETH MCARTHUR  |  MONDAY, 15 JUL 2019
... collected over $83 million for consumers and small businesses in just six months. In its first six months of operations, AFCA received over 35,000 complaints and 60% of those have already been resolved. Of the resolved complaints, 74% were resolved in ...
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