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Showing 1 - 10 of 78 results for %22External Dispute Resolution%22

Super funds' IDR process weak, inadequate: AFCA

KARREN VERGARA  |  FRIDAY, 5 APR 2024
... AFCA deals with. In one example, a fund failed to handle complaints appropriately both at the IDR and external dispute resolution (EDR) level and consistently delayed processing death benefits and insurance claims. Once AFCA raised the issue with the ...

AFCA secures $40m in refunds

ELIZA BAVIN  |  THURSDAY, 14 MAR 2024
... AFCA helps financial firms to address systemic issues early, minimise complaints flowing through to external dispute resolution and improve industry practice."

AFCA reports unprecedented complaint spike

ANDREW MCKEAN  |  TUESDAY, 9 JAN 2024
... meant to play. "Instead, the volume of complaints reaching us is putting unnecessary pressure on the external dispute resolution system and inevitably causing further delays for consumers." He noted that in their final full year the three schemes that ...

CSLR chief executive named

JAMIE WILLIAMSON  |  FRIDAY, 8 DEC 2023
... contribution will ensure the delivery of a valued compensation service which raises confidence in the external dispute resolution framework and, more broadly, the financial services industry." The board still requires an independent chair to be appointed ...

Veteran adviser cops permanent ban

KARREN VERGARA  |  TUESDAY, 15 AUG 2023
... proper person" to do so. ASIC has subsequently cancelled the AFSL of PWMS with a condition that the external dispute resolution and arrangements for compensating clients remain in place for 12 months. ASIC's concerns, which involved PWMS offering redeemable ...

ASIC cans Binance AFSL

KARREN VERGARA  |  TUESDAY, 11 APR 2023
... important rights and consumer protections under financial services laws in Australia, including access to external dispute resolution through the Australian Financial Complaints Authority. Our targeted review of these matters is ongoing, including focus ...

Court ruling reiterates need to comply with AFCA

CASSANDRA BALDINI  |  WEDNESDAY, 25 JAN 2023
... recognises the need for financial firms to cooperate with it. "The vast majority of the members of our external dispute resolution scheme do work in partnership with us, and this is to the benefit of firms as well as consumers," he said. The Federal ...

ASIC suspends, cancels AFSLs

CHLOE WALKER  |  WEDNESDAY, 7 DEC 2022
... statements and audit reports for the financial years ended 30 June 2020 and 30 June 2021 and did not maintain external dispute membership. "Licensees are required to lodge financial statements and audit reports with ASIC to demonstrate their capacity ...

AFCA adopts user pays funding model

CASSANDRA BALDINI  |  TUESDAY, 31 MAY 2022
... qualify for five free complaints a year. Overall, 95% of licensed financial firm members of the AFCA external dispute resolution scheme will pay only their annual registration fee, which has been set at $375.55 for the coming financial year. Among authorised ...

AFCA consults on funding

ELIZABETH MCARTHUR  |  THURSDAY, 10 MAR 2022
... 66% of all complaints received by AFCA. Overall, 95% of licensed financial firm members of the AFCA external dispute resolution scheme would pay only their annual registration fee each year, currently estimated to be $376 for the coming financial year. ...
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