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Showing 1 - 10 of 20 results for "Shail Singh"

'No benefit in switching super': AFCA finalises FSGA lead decision

RIDDHIMA TALWANI  |  TUESDAY, 27 JAN 2026
... appropriate, well supported financial advice. That did not happen here," AFCA lead ombudsman investments and advice Shail Singh said. Singh noted that the adviser did not make adequate inquiries into the complainant's circumstances, failed to properly ...

AFCA streamlines approach to over 1800 Shield, First Guardian complaints

MATTHEW WAI  |  MONDAY, 22 DEC 2025
... filed in relation to the collapsed schemes has increased to more than 1800, AFCA lead ombudsman investments and advice Shail Singh said in the update. Hence, adopting a lead decision approach is needed to resolve large numbers of similar complaints efficiently ...

1659 First Guardian, Shield complaints reach AFCA

KARREN VERGARA  |  MONDAY, 8 DEC 2025
... number of AFCA complaints grew by 100 from early November. At the time, AFCA lead ombudsman for investments and advice Shail Singh said while 1559 was a big number, he was concerned that AFCA had not received more given the total number of people affected. ...

ASIC labels digital assets as financial products

MATTHEW WAI  |  THURSDAY, 30 OCT 2025
... resolution scheme, despite some having chosen to become voluntary members. AFCA lead ombudsman for investment and advice Shail Singh said the updated guidance pledges better consumer protections when crypto and digital asset investments are involved. ...

AFCA urges adviser clarity on SMSF wholesale investor test

KARREN VERGARA  |  MONDAY, 23 JUN 2025
... SMSF is still regarded as a retail investor if the fund's asset base is below $10 million, AFCA lead ombudsman Shail Singh and senior ombudsman for investments and advice Patrick Hartney say. "AFCA applies the law as it stands. This is spelled out ...

UGC's AFCA membership to cease

KARREN VERGARA  |  MONDAY, 7 APR 2025
... and therefore does not account for potential gains or losses in other, suitable investments," AFCA lead ombudsman Shail Singh and senior ombudsman for investments and advice Alex Sidoti said. "We do use this approach, but rarely. If there is a scenario ...

CSLR costs driven by poor advice: AFCA

ELIZA BAVIN  |  TUESDAY, 1 APR 2025
The Australian Financial Complaints Authority (AFCA) lead ombudsman, investments and advice Shail Singh has told financial advisers that poor practices are the main contributor to the soaring costs of the Compensation Scheme of Last Resort (CSLR). "It's ...

'But for' compensation methodology unfair: FAAA

KARREN VERGARA  |  FRIDAY, 29 NOV 2024
... touched on the topic, lead ombudsman for investments and advice at the Australian Financial Complaints Authority (AFCA) Shail Singh explained the reasoning behind the test. "'But for' the failing of the adviser, where would the consumer have ...

AI no silver bullet for advice process, documentation: Experts

KARREN VERGARA  |  FRIDAY, 29 NOV 2024
... face or via video." Lead ombudsman for investment and advice at the Australian Financial Complaints Authority (AFCA) Shail Singh told delegates that he has not yet come across complaints involving advice documents produced by AI and may not. Ultimately ...

AFSLs can lose licence on CSLR intervention

KARREN VERGARA  |  WEDNESDAY, 7 AUG 2024
... paid 37 claims in total to date, which amounted to about $3.3 million. AFCA lead ombudsman for investments and advice Shail Singh, who also spoke at the event, said about 3000 complaints with AFCA will likely end up at the CSLR. In addition to the 2773 ...
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