AFCA
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 ...
Financial planning
The second CSLR levy period payable by financial advisers could increase to as much as $39.4 million if AFCA processes all DASS complaints by March 2025....
Financial planning
Reacting to the Compensation Scheme of Last Resort levy, the FAAA said another levy in addition to the existing ASIC levy will drive advice firms out of business. ...
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It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...