The Australian Financial Complaints Authority (AFCA) has published details of six members expelled from AFCA and two additional members due to be expelled in the coming months. The expulsions follow resolutions of the AFCA Board of Directors on 13 August 2025. Six members were expelled under section 3.4(a) of the AFCA Constitution for either failing to pay monies owed to AFCA or being insolvent. Two members will be expelled for ceasing to be duly authorised, licensed, or to carry on business in the industry, namely Next Generation Advice Pty Ltd (In Liquidation) on 18 October 2025 at 5pm AEDT and Bluebird Private Equity Pty Ltd on 26 November 2025 at 5pm AEDT. AFCA noted that members must pay an annual membership levy and fees for complaints received, and that AFCA membership is required to meet legal obligations when operating as an Australian Financial Services Licensee, Australian Credit Licensee, superannuation trustee, or Authorised Credit Representative. Expelled members that are still legally required to be AFCA members are encouraged to seek reinstatement, which remains at the discretion of the AFCA Board or its delegate and is conditional on rectifying the issues that led to expulsion.
Australian Financial Complaints Authority 2025-08-19
Australian Financial Complaints Authority confirms six member expulsions and schedules two further expulsions
The Australian Financial Complaints Authority (AFCA) expelled six members for insolvency or non-payment and plans to expel two more for losing authorization, with specific dates set for Next Generation Advice Pty Ltd and Bluebird Private Equity Pty Ltd. Expelled members required to maintain AFCA membership for legal compliance are advised to seek reinstatement by addressing the issues that led to their expulsion.