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AFCA
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
The levy payable by financial advisers for the Compensation Scheme of Last Resort has almost quadrupled for FY26 as the government launches a formal review....
People & Products
AFCA has confirmed its chief operating officer, Justin Untersteiner, will be departing the organisation in March to take up a CEO role....
Financial planning
The number of members expelled from the Australian Financial Complaints Authority almost doubled between 2023 and 2024, according to internal data. ...
Financial planning
The actions of the investment committee at Dixon Advisory should be placed under greater scrutiny in the upcoming Senate inquiry, according to the FAAA. ...
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 FAAA and AFCA are in disagreement regarding how much of an industry collapse, such as Dixon Advisory, relates to product failure and how much relates to advice. ...
Financial planning
The FAAA’s Phil Anderson believes the problem with Dixon Advisory is “much bigger than an advice issue” and the levy to pay for it should be expanded beyond the financial...
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
ASIC has cancelled a Sydney AFSL for failing to pay a $64,000 AFCA determination related to inappropriate advice, which then had to be paid by the CSLR. ...
Financial planning
AFCA’s latest statistics have shed light on which of the major licensees recorded the most consumer complaints in the last financial year....
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
AFCA has revealed to Money Management the number of Dixon Advisory complaints it has closed so far out of the more than 2,700 total complaints received....
Financial planning
AFCA has urged financial advice firms that when recommending a product to clients where it receives any benefits, advisers must go beyond merely disclosing conflicts of i...
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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...