The companies, products and regulatory developments shaping the broker industry.
Superannuation-fund complaints rose sharply while SMSF complaints fell. AFCA’s multi-product counting rules prevent these changes being added into an exact explanation of the sector’s total increase.
The draft clarifies AFCA’s reports to regulators and its interaction with firms. Existing scrutiny of systemic problems and settled complaints remains part of the framework.
The Snaffle operator’s licence ended on 12 October; required AFCA membership continues until 12 October 2027 for further complaints.
The cancellation took effect on 15 October, six days before the public notice. ASIC cited failures involving AFCA cooperation, financial reporting, levies and regulatory reports.