Decisions by AFCA related to financial advice to retail clients including, retail clients who were misclassified as wholesale clients, superannuation, insurance and investments held within super, published since 1 July 2024.

The Australian Financial Complaints Authority (AFCA) is a dispute resolution scheme for financial services in Australia.

AFCA considers complaints about financial products and services. Its determinations can award compensation to consumers for financial firms’ errors and/or inappropriate conduct that contribute to a loss. If the determination by the AFCA is in relation to personal financial advice, credit intermediation, securities dealing or credit provision, and less than the determined cap for the compensation scheme of last resort (CSLR) and remains unpaid then such claims can be referred to the CSLR.

Many Australian financial services licensees, Australian credit licensees, authorised credit representatives and superannuation trustees are required to be members of AFCA under their financial services licence conditions. Other firms have joined AFCA voluntarily.

The downloadable PDF contains decisions related to financial advice to retail clients including the retail clients who were misclassified as wholesale clients, superannuation, insurance and investments within superannuation published since 1 July 2024.

Please note:

1. AFCA is the author and maker of all the determinations referred to here.
2. Our summary does not capture the entire context and is not attributable to AFCA.
3. AFCA’s website can be accessed here: Home | Australian Financial Complaints Authority (AFCA).
4. AFCA’s full published determinations can be accessed here: Search published AFCA decisions | Australian Financial Complaints Authority.
5. Our brief summary of each determination is consistent with AFCA’s de-identification of information.

Financial Services and Credit Panel (FSCP) – Outcomes

Decisions by FSCP related to relevant providers published since 2023

The FSCP is a pool of industry participants, appointed by the responsible Minister, that ASIC draws upon when forming individual sitting panels. The FSCP operates separately from, but alongside, ASIC’s existing administrative decision-making processes.

A sitting panel will be convened by ASIC to consider certain suspected misconduct by, or circumstances relating to, a relevant provider.

Please note:

1. The FSCP is the author and maker of all the decisions referred to here.
2. Our summary does not capture the entire context.
3. The FSCP outcomes register with detail decisions can be accessed here: Home FSCP Outcomes Register.
4. Our brief summary of each decision is consistent with ASIC’s de-identification of information unless the outcome is required to be displayed on the Financial Advisers Register.