EDR

Financial planning

An Australian Financial Complaints Authority review of a lookback complaint resulted in a fee of nearly $30,000....

Financial planning

New data provided to a Parliamentary Committee had revealed the degree to which licensees are better offer resolving client remediation and other complaints via Internal ...

Policy & Regulation

PI ‘not worth the paper it’s written on’

The Federal Treasury has received yet more warnings that before it embarks on a compensation scheme of last resort it should fix professional indemnity insurance in circu...

Policy & Regulation

Don’t judge us on raw complaints data say super funds

Superannuation funds have warned that the complexity of the superannuation system is such that the Australian Financial Complaints Authority should not judge them on the ...

Financial planning

ASIC cracks down on dual ARs

The Australian Securities and Investments Commission has revoked the authorisations of 58 authorised representatives who it found had been inappropriately dual-authorised...

Policy & Regulation

Treasury confirms you will pay more for one-stop EDR

The Federal Treasury has confirmed that the Government’s determination to set up a one-stop-shop external dispute resolution scheme will end up costing stakeholders, incl...

Policy & Regulation

No certainty on Govt’s EDR legislation

General industry resistance to the inclusion of the Superannuation Complaints Tribunal in the proposed new Australian Financial Complaints Authority means the Government’...

Features

Higher prices at one stop EDR shop

The Government has opted to go with a ‘one stop shop’ approach to financial services external dispute resolution, but there is the real prospect of higher costs being imp...

Editorial

Last resort compensation – is anyone listening?

Mike Taylor writes that a broad cross-section of the financial services industry has voiced its concerns about a compensation scheme of last resort but few appear to be l...

Policy & Regulation

AFCA won’t provide better outcomes

The creation of the Australian Financial Complaints Authority will not address or prevent financial scandals and will cost an extra $9.2 million, according to CIO....

Editorial

ASIC wins the EDR debate but at whose cost?

Mike Taylor writes that the Australian Securities and Investments Commission was fundamental to the changes being wrought on the financial services external dispute resol...

Financial planning

Don’t penalise planners for licensee misdeeds – FPA

The Financial Planning Association is urging that new external dispute resolution arrangements insulate third-party planners from the misdeeds of licensees....

Financial planning

Govt takes next step on last resort compensation scheme

The effectiveness of professional indemnity is in the spotlight as the Government commissions full consideration of a last resort compensation scheme....