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COMPLAINTS
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
Advisers may think they are being compliant with the regulation but for their clients, it is often communication that can cause the biggest headache in their adviser rela...
Financial planning
AFCA has confirmed United Global Capital’s membership of the body will not be extended to accept further complaints, avoiding a repeat of the Dixon Advisory scenario....
Financial planning
AFCA remains firm on its stance that industry failures occurring in the financial advice sector are fundamentally an advice issue, rather than a product issue....
Financial planning
The Australian Financial Complaints Authority has shared how much its member fees will rise in the next financial year. ...
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
With United Global Capital expected to constitute a substantial portion of CSLR compensation in FY25–26, what has AFCA ruled in its determinations on the company so far?...
Financial planning
Contrary to expectations that Dixon Advisory would form the bulk of CSLR compensation, around three-quarters of the sum for FY26 relates to United Global Capital. ...
Financial planning
United Global Capital complaints to AFCA have quadrupled since August and are highly likely to rise further as it retains membership for another six months....
Financial planning
The corporate regulator has shared details on how many investment and advice complaints were reported under the internal dispute resolution data reporting framework in FY...
Financial planning
The Compensation Scheme of Last Resort says it has received over 200 claims for compensation relating to personal financial advice since its inception and detailed the sp...
Financial planning
Just one of the nearly 50 systemic issues reported by AFCA to regulators in the second half of FY24 related to investments and advice, a report has uncovered....
Financial planning
With less than 5 per cent of Dixon Advisory complaints closed, AFCA has detailed how it is dealing with systemic issues, known as batch matters, through a consistent yet ...
Financial planning
Investment and advice complaints to AFCA dropped by over a quarter in FY24 but inappropriate advice remains the most prevalent complaint afflicting the sector....
Financial planning
A compliance expert has shared three tips that financial advisers can learn from the mistakes of Dixon Advisory, based on the firm's AFCA determinations. ...
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MARKET INSIGHTS
Podcast
So we are now underwriting criminal scams?...
Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...
Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...