Two AFCA teams named finalists in dispute resolution awards

Two teams from the Australian Financial Complaints Authority (AFCA) – spanning the range of ways it helps consumers and financial firms resolve disputes – have been named as finalists in the Australian ADR Awards.

AFCA to consult on approach to categorising complaints about financial advice and financial products

With the forthcoming release of the draft Compensation Scheme of Last Resort (CSLR) legislation and in our regular discussions with the advice sector, AFCA has noted the currently proposed scope of the CSLR treats complaints about losses arising from the sale, distribution and operation of managed investment schemes and financial products and the provision of financial advice differently. 

AFCA Datacube updated with latest complaint statistics

The Australian Financial Complaints Authority (AFCA) has updated its online comparative reporting tool, the AFCA Datacube, to include information about financial complaints lodged from 1 July 2020 to 30 June 2021.

AFCA releases 2020–21 Annual Review

The 2020–21 AFCA Annual Review is now available.

AFCA updates processes to align with ASIC Regulatory Guide 271

The Australian Financial Complaints Authority (AFCA) has updated its processes to align with ASIC Regulatory Guide 271 Internal Dispute Resolution (RG 271).

AFCA updates Operational Guidelines

The Australian Financial Complaints Authority (AFCA) has updated its Operational Guidelines.

Advisers’ code of ethics offers a wider opportunity

The Code of Ethics for financial advisers is not all about catching out bad players, or about trading profit for “doing good”, says Australian Financial Complaints Authority (AFCA) Deputy Chief Ombudsman June Smith.

AFCA outlines latest efficiency measures

A pilot project aimed at identifying complaints without merit earlier in its process is among the initiatives the Australian Financial Complaints Authority (AFCA) has under way to support efficient and timely handling of the 70,000 complaints it receives annually.

Debt management firms become AFCA members

Under new government regulations certain debt management services are now prescribed as a type of credit activity for the purposes of the National Consumer Credit Protection Act 2009.

Why do clients complain about good advisers?

AFCA Investment and Advice Ombudsman Nicolas Crowhurst explains why even the best professionals receive complaints from time to time, and what advisers can do next if they receive a complaint. Originally published by AdviserVoice.

AFCA publishes details of non-compliant members

The Australian Financial Complaints Authority has today published the details of five financial firms who have failed to pay their AFCA membership levy and/or other fees. These financial firms and authorised credit representatives have been expelled from membership of AFCA.

AFCA publishes details of non-compliant members

The Australian Financial Complaints Authority has today published the details of 34 financial firms who have failed to pay their AFCA membership levy and/or other fees.