AFCA
Policy & Regulation
Financial advisers need to make sure all their new regulatory requirements are in place by October to avoid any scrutiny from the regulators, even if they aren’t receivin...
Financial planning
As they make up only a fraction of complaints to the Australian Financial Complaints Authority, advisers should not be relied on to fund the compensation scheme of last r...
Financial planning
Financial advisers only make up around 1.4% of complaints to the Australian Financial Complaints Authority, while life insurance is around 2%....
People & Products
Jan McClelland has been jointly appointed to chair the Life Code Compliance Committee by the Financial Services Council and the Australian Financial Complaints Authority....
People & Products
Emma Curtis has been appointed as lead ombudsman for insurance and Suanne Russell as lead ombudsman for small business....
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...
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MARKET INSIGHTS
Podcast
The succession dilemma is more than just a matter of commitments.This isn’t simply about younger vs. older advisers. It’...
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...