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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
Podcast
So we are now underwriting criminal scams?...
Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...
Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...