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Showing 1 - 10 of 1640 results for "Authority"

AFCA finds more Dixon Advisory victims

KARREN VERGARA  |  FRIDAY, 10 MAY 2024
The Australian Financial Complaints Authority (AFCA) added 544 more Dixon Advisory-specific victims to total 2492 complaints at the end of April, which will further exacerbate the costs and levy financial advisers must pay. The Financial Advice Association ...

AFCA and CSLR sign MoU

ELIZA BAVIN  |  THURSDAY, 9 MAY 2024
The Australian Financial Complaints Authority (AFCA) and Compensation Scheme of Last Resort (CSLR) have signed a Memorandum of Understanding (MoU) setting out how they will work together to support a fair and efficient financial services sector. The ...

ASIC hits back at parliament: 'Simply not realistic'

ELIZA BAVIN  |  TUESDAY, 30 APR 2024
... to investigate around 150 to 200. "Clearly there is a mismatch of expectations here. We are not a complaints hearing authority - we are not AFCA," Longo said. "All regulators, us included, have to make choices. We cannot investigate everything, we cannot ...

Macquarie Bank to pay $10m for unauthorised fee transactions

ELIZA BAVIN  |  MONDAY, 22 APR 2024
... enabled its customers to give third parties, such as financial advisers, stockbrokers and accountants, different levels of authority to transact on their accounts, including a limited authority to withdraw the third party's fees. Macquarie also made ...

Court approves $16m DASS settlement

KARREN VERGARA  |  FRIDAY, 19 APR 2024
... Thawley sought to gather more information for the victims in delaying the approval. The Australian Financial Complaints Authority (AFCA) confirmed to Justice Thawley that the settlement does not prevent victims taking part in the class action in applying ...

ESSSuper faces class action threat over unpaid super

ANDREW MCKEAN  |  FRIDAY, 12 APR 2024
... members of its Transport Superannuation Fund - a closed defined benefit scheme exclusive to employees of a transport authority who joined between 1 July 1988 and 31 December 1993. In some cases, ESSSuper allegedly miscalculated superannuation entitlements ...

FCA issues notices to Link Fund Solutions, Woodford

KARREN VERGARA  |  FRIDAY, 12 APR 2024
The Financial Conduct Authority's (FCA) investigation into the Woodford Equity Income Fund (WEIF) finds that the failures of Link Fund Solutions (LFS) and "star stock picker" Neil Woodford ultimately led to the fund's demise, leading to the ...

Heartland finally gets regulatory approval for Challenger Bank acquisition

ELIZA BAVIN  |  MONDAY, 8 APR 2024
... Heartland Group Holdings has announced it received indicative regulatory approvals from the Australian Prudential Regulation Authority (APRA) and the Reserve Bank of New Zealand (RBNZ) for Heartland Bank's acquisition of Challenger Bank. Heartland said ...

Super funds' IDR process weak, inadequate: AFCA

KARREN VERGARA  |  FRIDAY, 5 APR 2024
... process and are not doing enough to resolve member complaints before they reach the Australian Financial Complaints Authority (AFCA). The complaints authority warned that members are bypassing super funds' IDR processes and instead make a beeline ...

Court delays DASS class action settlement approval

KARREN VERGARA  |  FRIDAY, 5 APR 2024
The Federal Court has delayed approving the $16 million class action settlement against Dixon Advisory & Superannuation Services (DASS) as it seeks more information. The class action led by Shine Lawyers, which was also brought against former Dixon ...
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