AFCA

Financial planning

The Compensation Scheme of Last Resort has made its first payouts to victims since launching in April, with three claimants having been the victims of poor financial advi...

Financial planning

Former dealer group Libertas Financial Planning has given notice to AFCA to cease membership of the body’s external dispute resolution scheme, meaning victims will no lon...

Financial planning

The board of AFCA has appointed Professor John Pollaers for a second three-year term....

Financial planning

AFCA has told the Senate economics committee that alleged losses from Dixon Advisory clients are an estimated $458 million while outlining the concerns it is observing in...

Financial planning

Former ASIC deputy chair Peter Kell is to chair the Australian Financial Complaints Authority’s consumer advisory panel....

Financial planning

Dixon Advisory is to be expelled by the Australian Financial Complaints Authority, preventing any new complaints being made against the firm....

Financial planning

Phil Anderson, general manager for financial advice at the FAAA, believes the CSLR levy could reach $100 million if Dixon Advisory complaints are allowed to continue. ...

Financial planning

AFCA and the CSLR have signed a memorandum of understanding as to how they will support an efficient financial services sector via the scheme....

Financial planning

The FAAA has called on Minister Stephen Jones to address the escalating costs of CSLR as Dixon Advisory complaints to AFCA approach 2,500 following an extension of its AF...

Financial planning

The Federal Court has approved the $16 million class action settlement regarding Dixon Advisory and Superannuation Services....

Financial planning

AFCA has confirmed that Dixon Advisory and Superannuation Solutions has extended its membership, allowing victims to continue to make complaints....

Financial planning

Wealth Data’s Colin Williams believes the idea of four financial advice firms failing per year, as put forward in CSLR estimates, is too low an estimate....

Financial planning

The Compensation Scheme of Last Resort has officially launched with 11 claims in the first levy period expected to be paid by 30 June 2024, one of which relates to Dixon ...

Financial planning

AFCA has appointed a senior ombudsman specifically to specialise in Compensation Scheme of Last Resort complaints, with the scheme set to come into force on 2 April. ...

Financial planning

AFCA has already received almost 70,000 complaints since the start of the financial year, and chief executive David Locke has warned this sustained high growth shows the ...

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