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AFCA
Financial planning
A Melbourne financial advice firm has been put into liquidation by the Federal Court, and an appeal against its AFSL cancellation has been dismissed....
Financial planning
The Compensation Scheme of Last Resort’s CEO David Berry has confirmed the number of complaints the organisation is actively working on, with $3.3 million being paid to v...
Financial planning
ASIC has confirmed it was “unnecessary” for the regulator to intensively interview Dixon Advisory advisers about the problems at the firm....
Financial planning
AFCA is considering whether complaints against advice licensee United Global Capital, which saw its AFSL cancelled this week, will be covered by the CSLR and how many com...
Financial planning
The 2023–24 financial year saw over 105,000 financial complaints filed to AFCA, with its chief ombudsman expressing disappointment in the 9 per cent year-on-year rise....
Financial planning
The Australian Financial Complaints Authority has confirmed that Dixon Advisory is no longer a member, with some 2,773 complaints having been received by the expulsion da...
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...
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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...