Latest AFCA News

ASIC approves changes to AFCA Rules to assist transition of SCT complaints by 31 December 2020 deadline
Refreshed Business Funding Guide supports COVID crisis survival
AFCA Member Forums: two years of operations, future of membership experience
AFCA releases 2019-20 Annual Review
AFCA proposes Rules change to transfer unfinished complaints from Superannuation Complaints Tribunal
Victorian Aboriginal Legal Service and Financial Rights Legal Centre win AFCA cases against funeral insurer Youpla
Victorian Aboriginal Legal Service and Financial Rights Legal Centre win AFCA cases against funeral insurer Youpla
ASIC commences proceedings against ACBF Funeral Plans and Youpla Group concerning funeral expenses insurance
Six-month temporary time extension to cease on
Statement on NSW Appeal Court hearing of Insurance Council’s business interruption test case
Credit to flow to small businesses under plan to remove roadblocks
AFCA Datacube updated with latest complaint statistics
Consultation now open on AFCA Rules changes ahead of Superannuation Complaints Tribunal ceasing operations
Business interruption test case heads to NSW Court of Appeal
AFCA makes submission to ASIC’s product intervention power on add-on motor vehicle financial risk products
Insurance Council launches business interruption test case in NSW Supreme Court
ASIC commences action against GoGetta Equipment Funding Pty Ltd for unlicensed consumer leasing
ASIC permanently bans Brisbane finance broker and cancels credit licence
AFCA makes submission to ASIC’s product intervention powers consultation
AFCA appoints Head of Membership Services
Insurance Council and AFCA agree to launch business interruption test case
AFCA welcomes updated guidance on IDR procedures
Small business borrowers urged to beware before taking out
AFCA receives more than 80,000 complaints in FY19/20, nearly 5,000 of which are COVID-19 related
AFCA bans paid representative from lodging complaints
Temporary changes to Code due to COVID-19
ASIC cancels two AFS licences
AFCA receives more than 3100 complaints relating to COVID-19
AFCA launches new videos for diverse communities
AFCA sets out how it will work with regulators, consumers and industry, taking into account COVID-19 challenges
Insurers breach own code hundreds of times in 6 months
Complaints about home loans increase by 20%
Ian Govey AM to chair Banking Code Compliance Committee
AFCA responds to compensation scheme of last resort consultation
NIBA urges bushfire victims to beware of unlicensed and unregulated “claims advisers”
Financial ombudsman warns against insurance middlemen
Financial ombudsman launches dedicated bushfire hotline
AFCA announces dedicated support for bushfire victims
ASIC cancels AFS Licence of KP International Group Australia Pty Ltd
AFCA confirms its approach to responsible lending will be fully aligned to ASIC’s guidance
AFCA approach to adviser conduct obligations
AFCA welcomes new General Counsel
AFCA to strengthen focus on systemic issues
AFCA’s new ‘Datacube’ enables Australians to see how Financial Firms are handling Complaints
ASIC obtains freezing orders against Sydney financial adviser Ross Andrew Hopkins
AFCA announces appointment of Chief Operating Officer
$185 million in compensation awarded to consumers in AFCA’s first 12 months
AFCA appoints industry leader to spearhead customer service