COMPLAINTS

Financial planning

It may be licensees’ responsibility to report internal dispute resolution regime data to ASIC next month, but they are reminding their advisers of the importance of keepi...

Financial planning

Advisers could find themselves facing a larger bill this year if they receive an investments and advice complaint as AFCA updates its monetary rules and compensation cap ...

Financial planning

The estimated sum for the initial Compensation Scheme of Last Resort levy has been calculated, with the regime expected to start receiving claims in April....

Financial planning

The number of people eligible for the wholesale investor test has risen by more than 700 per cent since its introduction, and advisers need to ensure they are making thei...

People & Products

The Australian Financial Complaints Authority has welcomed a new member to its independent board as it announces the departure of a founding member. ...

People & Products

The Compensation Scheme of Last Resort’s transitional board has appointed its first chief executive alongside a non-executive director in the lead up to its scheduled com...

Financial planning

An AFCA determination may be binding, but there is an alternative way for financial advisers to progress if they disagree with an outcome. ...

Financial planning

AFCA has confirmed to Money Management when it will start issuing determinations on Dixon Advisory complaints with a view to the Compensation Scheme of Last Resort’s intr...

Financial planning

As the Australian Financial Complaints Authority reaches five years of operation, chief ombudsman David Locke has recognised the majority of financial firm members are n...

Superannuation

In a letter addressed to Minister Stephen Jones, Senator Andrew Bragg has asked for a clear timeline for action on addressing super complaints regarding delays in death b...

Financial planning

The Australian Financial Complaints Authority has opened a consultation into how it determines compensation for complaints involving financial advisers....

Financial planning

Two investment firms have made up almost half of investment and advice complaints as AFCA reports a rise of 589 per cent in complaints about inappropriate advice during F...

Financial planning

The last three months have seen at least three high-profile court cases involving adviser misconduct, keeping the corporate regulator on its toes to wrap up a busy quarte...

Financial planning

ASIC has warned licensees they could face regulatory action if they fail to remediate customers in a timely manner as it reviews licensees' handling of RG 277 in its firs...

Financial planning

Investment and advice complaints have seen a 51 per cent increase in the last financial year, largely attributed to complaints against Dixon Advisory and Best Leader Mark...

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