Latest Australian Financial Complaints Authority News

ASIC cancels AFS licence of Migration Cover Pty Ltd
ASIC seeks further feedback on internal dispute resolution data reporting requirements
ASIC approves changes to AFCA Rules to assist transition of SCT complaints by 31 December 2020 deadline
Insurance market failure a national crisis killing small business: report
ASIC cancels two AFS licences 27 November
AFCA Member Forums: two years of operations, future of membership experience
Business interruption insurance pandemic update
Sydney financial adviser pleads guilty to misappropriating $2.9 million
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
Changes to Australian Credit Laws
AFCA Datacube updated with latest complaint statistics
ASIC tells fund managers to be ‘true to label’
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
Superannuation trustees compensate members wrongly classified as ‘smokers’
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
ASIC releases final updated guidance on complaints handling
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
Insurance Council appoints new chair of Code Governance Committee
ASIC cancels licence of retail OTC issuer Forex Capital Trading Pty Ltd
Regulatory sandbox to boost Fintech innovation and competition in financial system
AFCA receives more than 3100 complaints relating to COVID-19
Witness List for 26 May 2020
AFCA launches new videos for diverse communities
ASIC takes action on two AFS licensees
COVID-19 financial losses highlight urgent need for Compensation Scheme of Last Resort
ASIC cancels AFS licences of FS Securities, Your Super Life and ACN 140 520 225
AFCA sets out how it will work with regulators, consumers and industry, taking into account COVID-19 challenges
Helping small businesses get access to credit
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
ASIC permanently bans Sydney licensee from providing financial services and cancels licence
NIBA urges bushfire victims to beware of unlicensed and unregulated “claims advisers”