AFCA strengthens team
The Australian Financial Complaints Authority (AFCA) has announced it will be recruiting a new deputy chief ombudsman and general counsel to support AFCA through its rapid growth and the expansion of its jurisdiction.
Chief ombudsman and chief executive, David Locke, said that AFCA experienced an unprecedented level of complaints in six months of operation, with over 35,000 consumers and small businesses having had raised complaints with AFCA.
“This is extraordinary and really reflects an increased awareness by consumers of their rights, and an increased willingness to complain,” Locke said.
“Appointing the key senior roles of deputy chief ombudsman and general counsel will ensure AFCA is able to deliver a fair, proactive and customer-focused dispute resolution service in a rapidly changing, complex operating environment.”
He stressed that organisational culture and leadership would be a key focus to AFCA which would be also looking to work with the financial firms who are members to improve their Internal Dispute Resolution (IDR) practices.
In addition to this, AFCA would be also recruiting a lead ombudsman – banking and finance, following the resignation of Philip Field who would finish up at AFCA at the end of July.
AUTHOR
Oksana Patron
Recommended for you
A former Northern Territory financial adviser has received a seven-year ban from ASIC, having been convicted of supplying dangerous drugs and receiving or possessing the proceeds of their sale.
Both Bain Capital and CC Capital have made revised bids for Insignia Financial after completing a period of due diligence.
The advice industry has reached triple-digit gains for the calendar year to date, with two licensees seeing gains of five during the week.
Targeting market leadership in digital advice, Bravura’s digital solutions are now available to over 6 million superannuation fund members.
