AFCA

Financial planning

Turnbull admits Royal Commission misjudgement

The Prime Minister, Malcolm Turnbull has admitted to making a political mistake in not acting sooner to call the Royal Commission into Misconduct in the Banking, Superann...

Policy & Regulation

Don’t let AFCA name and shame says ASFA

The Australian Securities and Investments Commission has been urged not to allow the newly-formed Australian Financial Complaints Authority to name and shame relatively l...

Editorial

Convenient political whipping boys

The recent release of the Parliamentary Joint Committee on Corporations and Financial Services inquiry report into the Life Insurance industry makes clear that planners h...

Financial planning

AFCA open for business by 1 November

The Minister for Revenue and Financial Services, Kelly O’Dwyer, said the Australian Financial Complaints Authority would be ready to receive disputes by 1 November 2018. ...

Policy & Regulation

Government appoints Liberal stalwart, Helen Coonan, first AFCA Chair

Liberal Party stalwart and former party cabinet member, Helen Coonan, has been appointed by the Turnbull Government to be the inaugural chair of the Australian Financial ...

Policy & Regulation

AFCA sponsors welcome passage of legislation

The major backers of establishing an Australian Financial Complaints Authority have welcomed passage of the necessary legislation through the Parliament....

Policy & Regulation

Govt navigates AFCA bill through Senate

The Australian Financial Complaints Authority will come into being next year following the passage of the necessary legislation through the Senate with minor amendments....

Policy & Regulation

Put AFCA on ice until after Royal Commission says CIO

The implications of the Royal Commission into the Banking and Financial Services Industry are such that the Government should shelve plans to establish the Australian Fin...

Financial planning

Will more PI insurers exit planner market?

Moves to increase monetary claim limits under the new Australian Financial Complaints Authority regime have prompted fears of more PI insurer exits from the financial pla...

Policy & Regulation

Is Govt rushing AFCA implementation?

The Federal Government has been warned against rushing the implementation of its new financial services external dispute resolution regime amid claims of shortened consul...

Policy & Regulation

Barnaby Joyce’s troubles impact AFCA legislation

The Government’s Australian Financial Complaints Authority legislation has been thrown into doubt by the citizenship dramas which impacted National Party leader, Barnaby ...

Policy & Regulation

Dissenting report draws battlelines on AFCA

The Government cannot be certain of imposing the new Australian Financial Complaints Authority in circumstances where opposition Senators have issued a dissenting report ...

Policy & Regulation

Government backs ASIC on product intervention

The Federal Government has thrown its support behind the move to give ASIC regulatory powers to ban the distribution of products it believes would cause harm....

Superannuation

SCT still being starved of funding

Under-funding of the Superannuation Complaints Tribunal means it could still be clearing a backlog up to four years after the establishment of the Australian Financial C...

Policy & Regulation

Should AFCA determinations be open to appeal?

Determinations by the Government’s new Australian Financial Complaints Authority should be open to appeal to the courts, according to a submission received by the Senate ...