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Showing 111 - 120 of 138 results for "CSLR"

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 ...

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
... powers to disqualify accountable persons and direct entities to reallocate responsibilities to address risks. Meanwhile, the CSLR aims to provide monetary compensation to eligible consumers when a relevant entity fails to pay an AFCA determination awarding ...

More DASS complainants flock to AFCA

KARREN VERGARA  |  MONDAY, 6 FEB 2023
... "lodging a complaint with AFCA is a necessary step for clients to preserve their possible eligibility under a potential future CSLR". The Federal Court recently ordered Dixon Advisory to pay $7.2 million for failing to act in the best interest of eight ...