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AFCA
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...
Financial planning
The Australian Financial Complaints Authority will begin reviewing the status of paused complaints, including around 1,700 related to Dixon Advisory, now that Parliament ...
Policy & Regulation
The Compensation Scheme of Last Resort legislation has passed in Parliament today, having first been raised back in 2016....
Financial planning
ASIC has accepted a court enforceable undertaking from a former Capstone authorised representative for failing to keep up-to-date records....
Financial planning
Single disciplinary body the Financial Services and Credit Panel has published its first outcome, relating to an adviser who impersonated a client on the phone....
Financial planning
Monthly complaints have fallen, but they could rise again by opening the scope of advice to other providers, according to AFCA lead ombudsman for investments and advice S...
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 ...
People & Products
Delia Rickard, who spent over a decade at the ACCC and had previously been a senior executive at ASIC, has joined the board of the financial wellbeing organisation. ...
Financial planning
The financial services ombudsman has secured $1 billion in compensation and refunds for consumers since 2018 and is on track to receive close to 100,000 complaints this f...
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 Australian Financial Complaints Authority has addressed the Independent Review’s recommendations and pushed for greater internal dispute resolution....
Financial planning
Expenses incurred by responding to the failure of Dixon Advisory and Superannuation Services has caused total revenue at E&P Financial Group to decline by 15%....
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....
Policy & Regulation
ASIC has banned a Sydney director for three years after he tried to approach determinations by the Australian Financial Complaints Authority, including for inappropriate ...
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MARKET INSIGHTS
Podcast
Interesting. Would be good to know the details of the StrategyOne deal....
It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...
increased professionalism within the industry - shouldn't that say, FAR register almost halving in the last 24 months he...