COMPLAINTS
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...
Financial planning
Financial advice licensees account for two-thirds of firms which have implemented remediation in the past 12 months, according to research....
Financial planning
NextGen Financial Group has been ordered by the Federal Court to pay $270,000 to an SMSF trustee over an unpaid AFCA determination regarding inappropriate financial advic...
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...
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MARKET INSIGHTS
Podcast
The succession dilemma is more than just a matter of commitments.This isn’t simply about younger vs. older advisers. It’...
Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...
It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...