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ASIC approves AFCA naming firms
The Australian Securities and Investments Commission (ASIC) has approved changes to the Australian Financial Complaints Authority (AFCA) rules allowing the authority to name the financial firms it rules both for and against.
ASIC said AFCA had applied for the rule change to enable the identification of firms following a public consultation process, although consumers would remain anonymous.
ASIC said that in its firs six months, AFCA had received 35,263 complaints and while publication of determinations had been a long-standing feature of the external dispute resolution schemes, the names of firms involved in financial services, superannuation and credit complaints had not been published.
ASIC said it viewed that the naming of firms would help identify conduct or market problems within firms or affected specific products or services, as well as highlighting where firms had don the right thing.
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TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.56 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.06 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.81 3 y p.a(%)
