ASIC claims for refunds have now been pushed back to 2008
Announced on this website this week, ASIC have stated that claims for the restitution of incorrectly deducted funds and lost earnings can now be projected back to 2008.
I have had my "super fund" deducted for "financial advice fees" since 2004.
Can I now reclaim these fees plus earnings back to 2008???
The loss of earnings when exponentially compounded over 11 years (2019-2008) amounts to many thousands of dollars which people are losing out on in their super accounts.
I have spoken to AFCA, whose rep. said that the intent of the increase was to bring more people into the realm of valid claims against their financial advisors whoever thay mey be.