Topic
Financial Complaints
21 published works
Global Regulation Tomorrow
FOS publishes half yearly complaints data
By Anita Edwards, Simon Lovegrove (UK)
On 1 May 2024, the Financial Ombudsman Service (FOS) published new data on the number of financial complaints received in the second half of 2023. The data reveals that the…
Bright Law Blog
AFCA complaint rules amended
The AFCA Scheme Amendment (2024 Measures No. 1) Authorisation 2024 has been registered. The instrument inserts a new clause 9A into the AFCA Scheme Authorisation 2018 which sets out that…
Bright Law Blog
AFCA systemic issues insights report January – June 2023
The Australian Financial Complaints Authority (AFCA) has published its systemic issues insights report for quarters 3 and 4 of the 2023 financial year. The report contains recent data, case studies…
Bright Law Blog
AFCA Systemic issues insights report for 21-22
The Australian Financial Complaints Authority (AFCA) has released its Systemic issues insights report for the 2021-2022 financial year. AFCA identifies systemic issues that have been raised in a complaint or…
Bright Law Blog
Case note: penalty for failing to co-operate with AFCA
In Australian Securities and Investments Commission v General Commercial Group Pty Ltd [2023] FCA 24 the Federal Court of Australia fined finance companies General Commercial Group Pty Ltd (formerly known as…
Global Regulation Tomorrow
FOS latest quarterly complaints data
On 2 November 2022, the Financial Ombudsman Service (FOS) published its latest quarterly complaints data. In Q2, the FOS received 38,470 new complaints, up from 35,029 new complaints in April-…
Global Regulation Tomorrow
FOS quarterly complaints data: Q1 2022/23
On 7 September 2022, the Financial Ombudsman Service (FOS) published their quarterly complaints data for Q1 2022/23. Between April and June 2022, the FOS received 65,740 new enquiries and 35,029…
Bright Law Blog
Case note: penalty for failing to comply with AFCA determination
In Australian Securities and Investments Commission v Lightspeed Finance Pty Ltd [2022] FCA 469 the Federal Court of Australia declared that Lightspeed Finance as a licensed credit assistance provider breached…
Bright Law Blog
AFCA consults on new user-pays funding model
The Australian Financial Complaints Authority is consulting on a proposed new user-pays funding model. The proposed funding model includes a single registration fee, a simplified complaints fee structure and introduces…
Bright Law Blog
Review of the Australian Financial Complaints Authority
The Government has announced a review of the Australian Financial Complaints Authority (AFCA). AFCA is the external dispute resolution body established to resolve complaints by consumers and small businesses about…