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Showing 91 - 100 of 121 results for "CSLR"

Former UniSuper chief appointed to CSLR board

ANDREW MCKEAN  |  TUESDAY, 16 JAN 2024
Former UniSuper chief executive Kevin O'Sullivan has been appointed to the Compensation Scheme of Last Resort (CSLR) transitional board as a non-executive director. O'Sullivan steps into the CSLR board role effective immediately, succeeding June Smith ...

2024 to be a watershed year: FAAA

JAMIE WILLIAMSON  |  THURSDAY, 11 JAN 2024
... members' costs of doing business, including the ASIC levy, and the implementation of the Compensation Scheme of Last Resort (CSLR)," Abood said. "Another key area of focus will be the use of technology in financial planning, where substantial opportunities ...

CSLR estimates $241m to fund backlog of complaints

JAMIE WILLIAMSON  |  TUESDAY, 9 JAN 2024
The board of the Compensation Scheme of Last Resort (CSLR) estimates $241 million will be needed to fund claims lodged with the Australian Financial Complaints Authority (AFCA) between November 2018 and September 2022. The CSLR is set to begin receiving ...

CSLR chief executive named

JAMIE WILLIAMSON  |  FRIDAY, 8 DEC 2023
The Compensation Scheme of Last Resort (CSLR) Transitional Board named the scheme's inaugural chief executive ahead of its planned commencement next April. David Berry has been appointed chief executive of the CSLR, effective December 11. Berry is currently ...

E&P settles class action for $16m

KARREN VERGARA  |  WEDNESDAY, 15 NOV 2023
... before the Australian Financial Complaints Authority (AFCA) and potentially under the Compensation Scheme of Last Resort (CSLR). Former chief Dixon stepped down in mid-2019 amid the controversy surrounding ASX-listed URF. URF enabled Australians to invest ...

AFCA consults on advice, MIS compensation

KARREN VERGARA  |  TUESDAY, 7 NOV 2023
... December 1. AFCA will publish its final approach in late December or early 2024. The Compensation Scheme of Last Resort (CSLR) laws, which passed in June, entitles investors who have not received their determination amount, compensation of up to $150,000. ...

Westpac reports $1.8bn net profit, rise in stressed assets

ANDREW MCKEAN  |  MONDAY, 21 AUG 2023
... expenses tied to the cost reset initiative and charges related the Commonwealth's Compensation Scheme of Last Resort (CSLR). According to ASIC, the CSLR will provide compensation of up to $150,000 to consumers who have an unpaid determination from ...

CSLR finally passes senate

KARREN VERGARA  |  FRIDAY, 23 JUN 2023
The long-awaited Compensation Scheme of Last Resort (CSLR) has been enshrined in legislation, with consumer advocates calling it a "historic moment" for Australians. Passing the senate on June 22, the Treasury Laws Amendment (Financial Services Compensation ...

Jones to prioritise CSLR legislation

KARREN VERGARA  |  TUESDAY, 21 MAR 2023
Assistant treasurer Stephen Jones flagged he will prioritise the passage of the Compensation Scheme of Last Resort (CSLR) laws in a bid to strengthen consumer protections. "Right now, there are around 2000 cases on hold with the Australian Financial ...

FPA voices concern on proposed CSLR, FAR laws

ANDREW MCKEAN  |  FRIDAY, 10 MAR 2023
... Financial Planning Association of Australia (FPA) has voiced concerns over the proposed Compensation Scheme of Last Resort (CSLR) and Financial Accountability Regime (FAR) legislation. While acknowledging the positive impact of an effective CSLR in promoting ...