Australian Securities and Investments Commission
a) The volume of complaints lodged with either ASIC or the Australian Financial Complaints Authority (AFCA) between 2022 and 2024 that concern, name, or relate to: (i) Compare Your Super (ii) APT…
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a) The volume of complaints lodged with either ASIC or the Australian Financial Complaints Authority (AFCA) between 2022 and 2024 that concern, name, or relate to: (i) Compare Your Super (ii) APT Strategy (iii) Simpler Super (iv) Guardian Investment management (v) Hewitt Family Investments WA b) Any systemic issue report or serious contravention notification given to ASIC by AFCA under section 1052E of the Corporations Act 2001 (Cth), or under the ASIC–AFCA Memorandum of Understanding, concerning any of the entities named above - I am not seeking protected information, merely the date each such report or notification was received, sent or acknowledged. c) Any internal ASIC briefing document, minute, or dashboard extract that records or summarises AFCA complaint volumes for the entities named above, including the earliest date on which ASIC was made aware of AFCA complaints concerning any of them
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This FOI release (ASIC FOI 2627-037) comprises a summary table of complaint and misconduct report counts, and a heavily redacted Commission Enforcement Committee meeting paper (Meeting 193, 3 April 2025) concerning APT Strategy Pty Ltd, which has been deregistered. The table records AFCA complaint volumes for APT Strategy rising from one in 2022 to 37 in 2025, with ASIC Reports of Misconduct totalling seven for 2022 to 2024. Other named entities show no data or no reports. The paper states APT was liquidated in February or March 2024 after an AFCA determination requiring repurchase of client investments of around $210,000, and that ASIC received an unpaid-determination referral from AFCA on 10 April 2024. It notes at least 38 complaints about APT and a related party, with 15 unable to be handled by AFCA because they post-date deregistration. Most of the paper is withheld under section 22.
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