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COMPLAINTS
Policy & Regulation
The Compensation Scheme of Last Resort legislation has passed in Parliament today, having first been raised back in 2016....
Financial planning
Since 11 March 2020, the financial services ombudsman has registered over 17,000 COVID-related complaints relating to banking, insurance and other financial services....
Financial planning
Hundreds of consumers with Dixon Advisory complaints are still waiting for updates months later as AFCA awaits the introduction of the Compensation Scheme of Last Resort ...
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
The financial complaints authority said it has received 200 complaints on average every day since 2018 but financial advice does not feature among top complaints....
Financial planning
The latest data on financial advice complaints, which shows a fall of over 50% in the past year, indicates the improved quality of financial advice, according to the Fina...
People & Products
The Australian Financial Complaints Authority has appointed Delia Rickard to the board for a three-year term....
Financial planning
Complaints about inappropriate advice have more than halved in the last financial year, according to the Australian Financial Complaints Authority, while those about fail...
People & Products
The Australian Financial Complaints Authority has made two changes to leadership of its investment and advice and banking and finance departments....
Life/Risk
While only making up 2% of total complaints received by the Australian Financial Complaints Authority, life insurance complaint handling time has almost doubled in two ye...
Financial planning
Already making up a fraction of complaints, complaints about advisers have fallen 33% in the 2021/22 financial year so far, according to the Australian Financial Complain...
Financial planning
There is a strong likelihood that complaints regarding inappropriate advice will be resolved by agreement rather than a decision against the advisers, according to the Au...
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
Emma Curtis has been appointed as lead ombudsman for insurance and Suanne Russell as lead ombudsman for small business....
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...
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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...