Not unlike the experience of the Superannuation Complaints Tribunal (SCT) the majority of complaints dealt with by the Australian Financial Complaints Authority (AFCA) have been around account administration.
The latest data released by the AFCA reveals that account administration headed the list of issues dealt with at 49.7%, followed by group life insurance issues (37.6%) and superannuation death benefits distribution at 11.3%.
The AFCA data pointed to 2,220 superannuation complaints having been progressed, with 1,813 having been closed for the period.
Hardly surprisingly, the larger the organisation the more complaints it appeared to receive, with AustralianSuper topping the list, followed by REST, then AMP Super, Nulis Nominees and BT Funds Management.
The lower outlook for inflation has set the stage for another two rate cuts over the first half of 2026, according to Westpac.
With private asset valuations emerging as a key concern for both regulators and the broader market, Apollo Global Management has called on the corporate regulator to issue clear principles on valuation practices, including guidance on the disclosures it expects from market participants.
Institutional asset owners are largely rethinking their exposure to the US, with private markets increasingly being viewed as a strategic investment allocation, new research has shown.
Australia’s corporate regulator has been told it must quickly modernise its oversight of private markets, after being caught off guard by the complexity, size, and opacity of the asset class now dominating institutional portfolios.