AFCA

Policy & Regulation

If they don’t ask, don’t try and sell says AFCA

The Australian Financial Complaints Authority has called for a radical escalation of the proposed prohibition on unsolicited telephone sales, urging a ban on all unsolici...

Financial planning

Advice businesses who went down owing AFCA

Many of the financial advice businesses named by the Australian Financial Complaints Authority as having failed to pay complaint-related charges are already out of busine...

Policy & Regulation

ASIC approves AFCA naming firms

The Australian Securities and Investments Commission has changed the rules to allow the Australian Financial Complaints Authority to name firms....

People & Products

AFCA appoints deputy chief ombudsman

The Australian Financial Complaints Authority (AFCA) has appointed Dr June Smith as deputy chief ombudsman, and Evelyn Halls as lead ombudsman banking and finance....

Policy & Regulation

ASIC targets licensees over lack of AFCA membership

Over 50 financial services and credit licensees have been formally suspended or cancelled by the Australian Securities and Investments Commission after failing to obtain ...

Financial planning

Compliance issues continue to erode BOLR pay-outs

The private contractual nature of Buyer of Last Resort arrangements has served to leave the major planning organisations on the sidelines as advisers see their pay-outs e...

Policy & Regulation

Industry funds urge AFCA to identify culprit firms

The Australian Financial Complaints Authority has been urged to identify the firms against which complaints are being made as well as their suppliers such as insurance co...

Financial planning

ASIC foreshadows ‘novel’ instances from legacy complaints

As financial planning firms worry about whether their professional indemnity insurance will cover legacy complaints, the Australian Securities and Investments Commission ...

Policy & Regulation

Planning firms should brace for legacy complaints

Financial planning firms should brace for an influx of legacy complaints in the wake of the Australian Securities and Investments Commission clearing the final regulatory...

Financial planning

‘Flawed’ AFCA changes leaving large firms at risk

Changes made to the Australian Financial Complaints Authority following the Hayne Royal Commission are ‘flawed’ according to legal firm Creevey Russell Lawyers. ...

Policy & Regulation

Don’t judge us on raw complaints data say super funds

Superannuation funds have warned that the complexity of the superannuation system is such that the Australian Financial Complaints Authority should not judge them on the ...

Financial planning

AFCA strengthens team

The Australian Financial Complaints Authority has announced it is recruiting for a number of newly-created senior roles....

Policy & Regulation

Identify the complaints culprits urge industry funds

Industry superannuation funds are urging the Australian Financial Complaints Authority to publish data which identifies which particular types of financial services organ...

Financial planning

Sydney wealth firm sees licence suspended by ASIC

The Australian Securities and Investments Commission (ASIC) has suspended the licence of Sydney-based Australasia Wealth Services Management (ASWM) for failing to meet re...

Financial planning

FPA warns on AFCA PI insurance dilemma

The Financial Planning Association has flagged to the Australian Financial Complaints Authority the high likelihood that professional indemnity insurers will refuse to co...