AUSTRALIAN FINANCIAL COMPLAINTS AUTHORITY

Financial planning

Multiple industry organisations have shared their thoughts on AFCA’s proposed rules amendment, supporting the idea of firms being named publicly when they fail to comply ...

Financial planning

AFCA chief executive, David Locke, has shared a key way for its financial services member firms to reduce the volume of fees paid to the organisation, which it says are “...

Financial planning

AFCA’s chief ombudsman David Locke has stated the magnitude of complaints received by the body is growing at an “unsustainable rate” and urged companies to improve their ...

Financial planning

The complaints authority has shared a way that an advice firm can improve their chances of a case being ruled in their favour or of paying a significantly lower compensat...

Financial planning

Following the release of the Senate Economic Legislation Committee’s Compensation Scheme of Last Resort report, the Financial Planning Association of Australia is once ag...

Financial planning

While financial advisers may understand the difference between general advice and personal advice, this is not always the case for consumers and can lead to a client comp...

Financial planning

Advisers will not be as disadvantaged as they are when a complaint is made if the corporate watchdog placed more responsibility back on consumers, a financial adviser bel...

Life/Risk

Amid suggestions by the Australian Financial Complaints Authority that the Activities of Daily Living regime is “very tough”, the major insurers have flagged key changes ...

Superannuation

Appeals by QSuper and Investors Exchange Limited against the Australian Financial Complaints Authority have been dismissed by the courts as the body has been found to hav...

Financial planning

It would be reasonable to have all Australian Financial Complaints Authority members pay for and be covered by the new scheme, according to a law firm....

Financial planning

There has been no shortage of consumers and small businesses looking to file legacy complaints with the Australian Financial Complaints Authority, with data suggesting le...

Financial planning

The Australian Securities and Investments commission has cancelled the Australian financial service licence of KP International Group Australia due to resignation of all ...

Financial planning

The Australian Financial Complaints Authority has said it will take the Financial Adviser Standards and Ethics Authority code of ethics into account in making its determi...

People & Products

Datacube will allow consumers and organisations to track results of complaints against financial firms by the Australian Financial Complaints Authority....

Financial planning

The authority handled over 70,000 complaints signalling there is more to be done to restore faith in financial services....

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MARKET INSIGHTS

So we are now underwriting criminal scams?...

5 months ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

5 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

7 months ago

Commonwealth Bank has formally dropped to zero advisers following LGT Crestone’s acquisition of its advice arm – some six years on from the Hayne royal commission. ...

4 weeks ago

The FSCP has issued a written direction to an adviser who charged clients “extraordinary fees” for inappropriate and conflicted advice, as well as encouraged them to swit...

1 week 4 days ago

ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager. ...

2 weeks 6 days ago