AFCA

Financial planning

Advisers may think they are being compliant with the regulation but for their clients, it is often communication that can cause the biggest headache in their adviser rela...

Financial planning

Attempts to simplify advice documentation are unlikely to succeed unless advisers are confident they can produce shorter documents without fear of regulatory penalisation...

Financial planning

ASIC has cancelled the AFSL of a Perth financial services firm following payments to its clients by the Compensation Scheme of Last Resort after a failed managed investme...

Financial planning

AFCA has confirmed United Global Capital’s membership of the body will not be extended to accept further complaints, avoiding a repeat of the Dixon Advisory scenario....

Financial planning

AFCA’s Shail Singh has encouraged financial advisers, who are often the first to hear about examples of misconduct, to speak up and report such activity if they seek self...

Financial planning

AFCA remains firm on its stance that industry failures occurring in the financial advice sector are fundamentally an advice issue, rather than a product issue....

Financial planning

The Australian Financial Complaints Authority has shared how much its member fees will rise in the next financial year. ...

Financial planning

AFCA chief executive, David Locke, has shared a key way for its financial services member firms to reduce the volume of fees paid to the organisation, which it says are “...

Financial planning

With United Global Capital expected to constitute a substantial portion of CSLR compensation in FY25–26, what has AFCA ruled in its determinations on the company so far?...

Financial planning

Contrary to expectations that Dixon Advisory would form the bulk of CSLR compensation, around three-quarters of the sum for FY26 relates to United Global Capital. ...

Financial planning

The levy payable by financial advisers for the Compensation Scheme of Last Resort has almost quadrupled for FY26 as the government launches a formal review....

People & Products

AFCA has confirmed its chief operating officer, Justin Untersteiner, will be departing the organisation in March to take up a CEO role....

Financial planning

The number of members expelled from the Australian Financial Complaints Authority almost doubled between 2023 and 2024, according to internal data. ...

Financial planning

The actions of the investment committee at Dixon Advisory should be placed under greater scrutiny in the upcoming Senate inquiry, according to the FAAA. ...

Financial planning

United Global Capital complaints to AFCA have quadrupled since August and are highly likely to rise further as it retains membership for another six months....

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MARKET INSIGHTS

So we are now underwriting criminal scams?...

4 months 1 week ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

4 months 2 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

6 months 2 weeks ago

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