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Showing 1 - 10 of 100+ results for "Australian Financial Complaints Authority"

AFCA adopts case merit assessments

JAMIE WILLIAMSON  |  MONDAY, 9 MAY 2022
The Australian Financial Complaints Authority will permanently adopt a merit 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 ...

AFCA consults on funding

ELIZABETH MCARTHUR  |  THURSDAY, 10 MAR 2022
The Australian 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 ...

CSLR will not fully protect investors

KARREN VERGARA  |  WEDNESDAY, 16 FEB 2022
... continue to push for expanding the CSLR's jurisdiction to reflect the remit of the Australian Financial Complaints Authority. "Victims of financial misconduct who have received a determination from AFCA deserve access to compensation if their determination ...

ASIC considering more action on Sterling collapse

KARREN VERGARA  |  MONDAY, 14 FEB 2022
... 2001 and have not consented to participate in relevant remediation processes with the Australian Financial Complaints Authority. ASIC is also looking into the recommendation of establishing a framework that promotes greater awareness and understanding ...

ASFA names new chair

KARREN VERGARA  |  WEDNESDAY, 2 FEB 2022
... who will retire from the role. Dransfield is currently a non-executive director of the Australian Financial Complaints Authority and Hollard Insurance. He led the Insurance Council of New Zealand for four years is the former chief executive of Suncorp's ...

Inquiry criticises gaps in CSLR

KARREN VERGARA  |  MONDAY, 31 JAN 2022
... appeared at the inquiry, said the CSLR should oversee all financial services covered by the Australian Financial Complaints Authority or as an absolute minimum, managed investment schemes, funeral insurance policies and debt management firms. "Ultimately ...

APRA, ASIC provide annual update

CHLOE WALKER  |  THURSDAY, 16 DEC 2021
... borrower hardship, participated in a cross-agency working group with the Treasury and the Australian Financial Complaints Authority, helped progress test cases in a timely and efficient manner and generated significant engagement from industry, co-chaired ...

AFCA must improve transparency: Hume

KARREN VERGARA  |  THURSDAY, 25 NOV 2021
A review of the Australian Financial Complaints Authority found that it needs to be more transparent when dealing with complainants and providing the reasoning behind its decisions. Senator Jane Hume's final report made 14 recommendations, all of which ...

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 ...
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