AFCA

Policy & Regulation

The new Australian Financial Complaints Authority will kick off with a staff of around 550 people with the industry providing funding based on an APRA-style levy....

Financial planning

AFA warns on likely higher PI premiums

The Association of Financial Advisers has warned that the new Australian Financial Complaints Authority regime is likely to drive up professional indemnity insurance prem...

Policy & Regulation

ASIC releases guidance ahead of AFCA regime

The regulator has released new guidance in advance of AFCA’s commencement to provide policy certainty for stakeholders and to support the transition to the new regime....

People & Products

David Locke named new AFCA chief ombudsman, CEO

Australian Charities and Not-for-Profits Commission assistant commissioner David Locke has been named as the new chief ombudsman and CEO of the Australian Financial Compl...

Financial planning

AFCA decisions should be open to review and revision

The Association of Financial Advisers has argued that decisions by the newly-established Australian Financial Complaints Authority should be capable of both review and re...

Policy & Regulation

ASIC gives financial firms AFCA transition relief

The regulator has said it would give financial firms, including super trustees, until 1 July 2019 to update mandatory disclosure documents and periodic statements with th...

Policy & Regulation

Inaugural AFCA board announced

Sydney-based planner, Claire Mackay has been included in the inaugural board of the new Australian Financial Complaints Authority....

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...