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AFCA
People & Products
The Federal Government has appointed Swinburne University Chancellor, Professor John Pollaers as the new chairman of AFCA succeeding former Liberal minister, Helen Coonan...
Financial planning
Financial advisers distrust the Australian Financial Complaints Authority because it is perceived to have ‘coached’ complainants and Treasury is being urged to investigat...
Financial planning
An Australian Financial Complaints Authority review of a lookback complaint resulted in a fee of nearly $30,000....
Financial planning
Detailed file notes are one of the biggest factors that can help defend financial planners against complaints and planners need to be innovative when managing their recor...
Policy & Regulation
Proceedings have commenced against Lightspeed Finance and its director, Mark Fitzpatrick, over failure to comply with Australian Financial Complaints Authority determinat...
Financial planning
Frivolous and vexatious consumers should be made to pay for their persistent use of the Australian Financial Complaints Authority against advisers, according to the Finan...
Financial planning
The Federal Treasury has been told that in circumstances where the Australian Financial Complaints Authority is hearing matters involving wholesale clients and can make b...
Financial planning
The Australian Financial Complaints Authority should have no involvement in ongoing investigations into systemic issues and should cede the role to ASIC, according to the...
Policy & Regulation
The Federal Government has acted to initiate the scheduled review of the Australian Financial Complaints Authority but its terms of reference will not specifically touch ...
Financial planning
Wholesale clients should have the financial capability and knowledge necessary to rely on professional indemnity insurance rather than accessing the proposed new compensa...
Financial planning
A loss in the NSW Supreme Court and action by the Australian Securities and Investments Commission has seen the Australian Financial Complaints Authority forced to change...
Policy & Regulation
A NSW Supreme Court Judge has admonished the Australian Financial Complaints Authority for stepping beyond what is appropriate by “joining the fray” to prompt the filing ...
Superannuation
Up to 20 complaints left unfinished by the final closure of the Superannuation Complaints Tribunal will need to be handled by the Australian Financial Complaints Authorit...
Financial planning
There are just a few days left for firms to provide responses to financial difficulty complaints for internal dispute resolution as the extension implemented by the Austr...
Financial planning
Financial planning licensees are urging a highly cautious approach on their planners because of the continuing uncertainty around the Financial Adviser Standards and Ethi...
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MARKET INSIGHTS
Podcast
Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...
It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...
So we are now underwriting criminal scams?...