Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 111 - 120 of 935 results for "Compensation"

FAAA calls for other sectors to help pay $67m CSLR bill

ELIZA BAVIN  |  WEDNESDAY, 3 SEP 2025
In its submission to the Treasury consultation on the Compensation Scheme of Last Resort (CSLR) Special Levy for 2025/26, the Financial Advice Association Australia (FAAA) said financial advisers should not be expected to pay more than the $20 million ...

Government scraps inquiry into advice firm failures, Dixon Advisory

JAMIE WILLIAMSON  |  FRIDAY, 29 AUG 2025
... wealth management companies that would have dissected the collapse of firms like Dixon Advisory and the impact on the Compensation Scheme of Last Resort (CSLR). In September 2024, the government referred the inquiry to the Senate Economics References ...

NGS Super aligns leadership team for growth

MATTHEW WAI  |  MONDAY, 11 AUG 2025
... officer, bringing over 25 years of experience across life insurance, general insurance, superannuation and workers' compensation. Kotsilas replaces Philippa Minney who has shifted into the role of chief financial officer. She was most recently the deputy ...

Treasury launches consultation on CSLR breaching sub-sector levy caps

KARREN VERGARA  |  FRIDAY, 1 AUG 2025
Treasury today launched a consultation on the Compensation Scheme of Last Resort (CSLR), considering options on how to deal with estimates that have drastically exceeded sub-sector levy caps. Released late Friday, the consultation paper is seeking feedback ...

Mulino sits on Tranche 2 for now, grapples with complexity

KARREN VERGARA  |  WEDNESDAY, 30 JUL 2025
... that people can then fully digest all of those elements holistically." With respect to the sustainability of the Compensation Scheme of Last Resort (CSLR) and the ballooning costs borne by the financial advice industry, Mulino said without pre-judging ...

FAAA fights to reignite Dixon inquiry

MATTHEW WAI  |  THURSDAY, 24 JUL 2025
... with other similar failures like United Global Capital, has mounted enormous stress on the advice industry, with the Compensation Scheme of Last Resort (CSLR) levy continuing to surge through the $20 million sub-sector cap. Although CSLR aims to compensate ...

Investments, advice complaints jump 18%

KARREN VERGARA  |  WEDNESDAY, 23 JUL 2025
... the customer's best interest," AFCA chief executive David Locke said. "This only highlights the need for the Compensation Scheme of Last Resort for victims of unlawful advice." Conversely, superannuation complaints dropped 16% year on year to 6164 ...

Adviser exodus puts retirement savings at risk: CPA

KARREN VERGARA  |  THURSDAY, 17 JUL 2025
... reforms must be prioritised by the government, he urged, namely finalising the post-implementation review of the Compensation Scheme of Last Resort (CSLR), updating financial advice education standards and changing the financial advice best interest ...

AMP actions impacted 'hundreds of thousands' of customers: Shine

ELIZA BAVIN  |  FRIDAY, 4 JUL 2025
... superannuation savings were eroded due to excessive insurance fees. "This class action is about seeking justice and compensation for everyday Australians who trusted the AMP trustees to manage their retirement savings responsibly," Shine Lawyers special ...

CSLR releases revised levy estimate

ELIZA BAVIN  |  FRIDAY, 4 JUL 2025
The Compensation Scheme of Last Resort (CSLR) has released a FY26 revised levy estimate, coming down slightly from the figure estimated in January. The CSLR said the need for a revised estimate was triggered due to the initial levy estimate, issued ...