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Showing 1 - 10 of 100+ results for "AFCA"

AFCA adopts case merit assessments

JAMIE WILLIAMSON  |  MONDAY, 9 MAY 2022
... assessment process, so that complaints where no error or financial loss has occurred can be identified and excluded quickly. AFCA conducted a three-month pilot program last year during which complaints were subjected to a merit assessment during the ...

ASIC suspends Dixon Advisory AFSL

ELIZABETH MCARTHUR  |  TUESDAY, 19 APR 2022
... can continue to access financial services. It also requires the maintenance of dispute resolution arrangements including AFCA membership until 8 April 2023; and requires the maintenance of compensation arrangements that comply with the Corporations Act ...

AFCA consults on funding

ELIZABETH MCARTHUR  |  THURSDAY, 10 MAR 2022
... Financial Complaints Authority is consulting with financial firms on a new user-pays funding model. Under the proposed model AFCA estimates that 90% of its members would see a positive or neutral impact on total cost and one in five members would experience ...

Advisers cautious of election promises

KARREN VERGARA  |  THURSDAY, 3 MAR 2022
... constructed pieces of law and regulation in the name of simplicity, he said. Additionally, Brown hopes to gain more clarity from AFCA to minimise complaint litigation risk advisers face.

CSLR will not fully protect investors

KARREN VERGARA  |  WEDNESDAY, 16 FEB 2022
... of the Australian Financial Complaints Authority. "Victims of financial misconduct who have received a determination from AFCA deserve access to compensation if their determination goes unpaid. In its current form, the model will limit consumer access ...

E&P pulls the plug on DASS

KARREN VERGARA  |  WEDNESDAY, 19 JAN 2022
... include potential damages that will arise from the Piper Alderman and Shine Lawyers class actions, numerous claims made to AFCA, as well as civil penalties agreed between DASS and ASIC. Piper Alderman commenced the class action in the Federal Court last ...

AFCA must improve transparency: Hume

KARREN VERGARA  |  THURSDAY, 25 NOV 2021
... and providing the reasoning behind its decisions. Senator Jane Hume's final report made 14 recommendations, all of which AFCA said it "agrees with in principle". One recommendation is for the authority to provide clearer guidance when an issue should ...

Hume throws shade at trustee rainy day funds

KARREN VERGARA  |  MONDAY, 22 NOV 2021
... banks pay towards the cost of establishment of the CSLR, and I'm yet to see an example of a bank who has failed to pay an AFCA determination," she said. Having a broad-based scheme on the other hand would inevitably be borne by other investors, that ...

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 ...

AFCA appoints senior ombudsmen

JAMIE WILLIAMSON  |  TUESDAY, 26 OCT 2021
... banking and finance, insurance, investments and advice, and superannuation. All seven appointments are internal promotions, AFCA noted. Anne Maree Howley has been appointed senior ombudsmen, superannuation while Shail Singh has been named senior ombudsmen ...
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