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Showing 101 - 110 of 138 results for "Compensation Scheme of Last Resort"

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
... The 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 ...

Review of managed investment schemes kicks off

JAMIE WILLIAMSON  |  THURSDAY, 9 MAR 2023
... won't consider, which includes whether schemes should be brought within the scope of the Compensation Scheme of Last Resort (CSLR), legislation for which was once again introduced to Parliament just yesterday. This will come as a blow to the likes ...

Government introduces FAR, CSLR Bills

ANDREW MCKEAN  |  WEDNESDAY, 8 MAR 2023
The Financial Accountability Regime and Compensation Scheme of Last Resort have been introduced to Parliament by Assistant Treasurer Stephen Jones. The Financial Accountability Regime (FAR) Bill 2023 aims to promote accountability and responsible behaviour ...

More DASS complainants flock to AFCA

KARREN VERGARA  |  MONDAY, 6 FEB 2023
... guarantee of a payout as Dixon Advisory is currently under voluntary administration and that a Compensation Scheme of Last Resort is still not established. Nevertheless, ASIC said that "lodging a complaint with AFCA is a necessary step for clients to ...

All financial advice should be tax deductible: FPA

CASSANDRA BALDINI  |  FRIDAY, 3 FEB 2023
... personal assets come retirement. The FPA said it broadly supports the decision to implement the Compensation Scheme of Last Resort (CSLR) following the Royal Commission but added the government's proposed model is based on recommendations from "an ageing ...

Former DASS clients flood AFCA with complaints

JAMIE WILLIAMSON  |  TUESDAY, 8 NOV 2022
... fact that they've made a complaint does mean they will be eligible for restitution under the Compensation Scheme of Last Resort if and when it comes into being. Dixon Advisory went into voluntary administration in January of this year, at which point ...

FPA seeks broader scope for CSLR

CHLOE WALKER  |  MONDAY, 10 OCT 2022
... Association of Australia (FPA) has called on the federal government to broaden its proposed compensation scheme of last resort (CSLR) and to extend the ASIC levy freeze for advisers for another year. The FPA believes that the current CSLR Bill is too ...

CSLR legislation tabled, advice sector responds

ANDREW MCKEAN  |  FRIDAY, 9 SEP 2022
The government has advanced its commitment to establish a Compensation Scheme of Last Resort (CSLR), releasing for consultation exposure draft regulations. The CSLR will facilitate the payment of compensation of up to $150,000 to eligible consumers ...