Australian Financial Complaints Authority

AUSTRALIAN FINANCIAL COMPLAINTS AUTHORITY

Policy & Regulation

The Australian Securities and Investments Commission has broken new ground cancelling the licenses of two accounting firms for failing to obtain membership of the Austral...

Financial planning

Can small, self-licensed firms afford adequate PI insurance?

Professional indemnity insurance premiums are rising because fewer insurers are participating in the market and questions are being asked about whether small, self-licens...

Financial planning

AFCA inundated with complaints

The Australian Financial Complaints Authority reported it received over 13,000 phone enquiries in its first month of operation. ...

Financial planning

ASIC warns on AFCA membership late fees

Financial firms who are members of the Australian Financial Complaints Authority must notify the Australian Securities and Investments Commission of their membership by t...

Policy & Regulation

ASIC will not ignore ‘lawful’ behaviour

The Australian Securities and Investments Commission has declared that just because behaviour is lawful does not make it an excuse where consumer detriment is concerned....

Policy & Regulation

ASIC warning to AFCA laggards

The Australian Securities and Investments Commission has issued a warning as credit representatives appear to be lagging on their obligations to join the Australian Finan...

Financial planning

ASIC cancels Austplan’s licence

The Australian Securities and Investments Commission has cancelled the AFS licence of Austplan, effective from 25 November....

Policy & Regulation

AFCA unveils strategy, brand ahead of launch

The new ombudsman vows to “proactively work with consumers, small business and the financial services sector to resolve and reduce financial disputes”....

Policy & Regulation

AFCA sponsors welcome passage of legislation

The major backers of establishing an Australian Financial Complaints Authority have welcomed passage of the necessary legislation through the Parliament....

Policy & Regulation

O’Dwyer announces transition to AFCA

The Minister for Revenue and Financial Services, Kelly O’Dwyer has announced the start of a process towards a single financial services external dispute resolution body....