AFCA welcomes release of Independent Review’s report   

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The Australian Financial Complaints Authority (AFCA) welcomed the release yesterday of the report of the Independent Review into its financial dispute resolution service. AFCA agrees in principle with the report’s

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AFCA launches new platform to improve dispute resolution 

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The Australian Financial Complaints Authority (AFCA) has launched a new digital platform to help financial firms better manage disputes that reach the ombudsman service. The new AFCA Member Benchmarking Dashboard

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AFCA appoints seven Senior Ombudsmen

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The Australian Financial Complaints Authority (AFCA) has created the new role of Senior Ombudsman, and announced seven appointments, as it progresses projects to enhance the efficiency and effectiveness of its dispute

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Complaints about four major banks fall: AFCA 

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Consumer complaints about the four major banks fell seven per cent in 2020-21, the Australian Financial Complaints Authority (AFCA) says in new analysis of the 70,510 complaints it received overall

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Most ‘know your client’ issues resolved early: AFCA

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Consumers who believe they’ve been given inappropriate advice or advice not in their best interest account for one in four Investments and Advice complaints but most of these complaints are

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AFCA receives 70,000 financial complaints in 2020-21

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Australians in dispute with banks, insurers, super funds, investment firms and financial advisers lodged more than 70,000 complaints with the Australian Financial Complaints Authority (AFCA) in the past 12 months. They secured more than $240 million in compensation

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Why do clients complain about good advisers?

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Executive summary Even the best professional will receive a complaint from time to time. Some are unsubstantiated, and some are valid. Both are opportunities which can benefit your business through

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AFCA announces John Pollaers OAM as next Independent Chair

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The Australian Financial Complaints Authority’s (AFCA) Board of Directors has announced the appointment of Professor John Pollaers OAM as its next Independent Chair. Prof Pollaers’ appointment follows the Hon Helen

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Increased AFCA powers will impact financial service providers and their insurers

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The Australian Financial Complaints Authority (AFCA) will have increased powers to investigate complaints up to 12 years old and, where appropriate, make binding directions for monetary compensation. AFCA was established

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AFCA open for business: time for licensees to update ASIC with their AFCA membership details

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ASIC has welcomed the achievement of a major milestone for Australian consumers and small business – the start of Australia’s new financial services dispute resolution scheme, the Australian Financial Complaints

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