POWERED BY MOMENTUM MEDIA
COMPLAINTS
Financial planning
The number of people eligible for the wholesale investor test has risen by more than 700 per cent since its introduction, and advisers need to ensure they are making thei...
People & Products
The Australian Financial Complaints Authority has welcomed a new member to its independent board as it announces the departure of a founding member. ...
People & Products
The Compensation Scheme of Last Resort’s transitional board has appointed its first chief executive alongside a non-executive director in the lead up to its scheduled com...
Financial planning
An AFCA determination may be binding, but there is an alternative way for financial advisers to progress if they disagree with an outcome. ...
Financial planning
AFCA has confirmed to Money Management when it will start issuing determinations on Dixon Advisory complaints with a view to the Compensation Scheme of Last Resort’s intr...
Financial planning
As the Australian Financial Complaints Authority reaches five years of operation, chief ombudsman David Locke has recognised the majority of financial firm members are n...
Superannuation
In a letter addressed to Minister Stephen Jones, Senator Andrew Bragg has asked for a clear timeline for action on addressing super complaints regarding delays in death b...
Financial planning
The Australian Financial Complaints Authority has opened a consultation into how it determines compensation for complaints involving financial advisers....
Financial planning
Two investment firms have made up almost half of investment and advice complaints as AFCA reports a rise of 589 per cent in complaints about inappropriate advice during F...
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....
Never miss the latest news and developments in wealth management industry
MARKET INSIGHTS
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...