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Showing 121 - 130 of 899 results for "Compensation"

CSLR warns adviser levy will balloon

KARREN VERGARA  |  FRIDAY, 25 OCT 2024
The Compensation Scheme of Last Resort (CSLR) warned the advice sector should brace for an even bigger levy in the 2026 financial year, forecasting a total of $20 million. Financial advisers are set to cough up more than $20 million in FY26, which will ...

ASIC cans timeshare company AFSL

KARREN VERGARA  |  WEDNESDAY, 23 OCT 2024
... Complaints Authority (AFCA) determination on June 28 led to the cancellation of its AFSL and credit licence as the Compensation Scheme of Last Resort (CSLR) had to step in and compensate the consumer $19,429.60. "Where the CSLR pays compensation to an ...

ANZ, OnePath settle $50m class action

ELIZA BAVIN  |  FRIDAY, 4 OCT 2024
... approval, the settlement entitles thousands of members with OnePath or ANZ superannuation or pension accounts to compensation, which will be paid to group members who register with the firm. The class action alleged that OPC breached its duties as trustee ...

Hanson backs Dixon Advisory inquiry

KARREN VERGARA  |  WEDNESDAY, 18 SEP 2024
... Advisory - a scandal involving hundreds of millions in client losses - and to ensure it is not repeated." Under the Compensation Scheme of Last Resort (CSLR), the FAAA estimates the advice sector will foot a $135 million bill to compensate victims of ...

AMP BOLR litigants face lengthy payout process

KARREN VERGARA  |  TUESDAY, 17 SEP 2024
... settlement." One group member told the judge that that $100 million settlement was not sufficient and doesn't represent fair compensation for damages incurred by the collective participants in the class action. "No doubt the court will be aware the suggested ...

FAAA ramps up Dixon inquiry campaign

JAMIE WILLIAMSON  |  THURSDAY, 12 SEP 2024
... members of parliament to support a public inquiry into the collapse of Dixon Advisory and the flow-on effect on the Compensation Scheme of Last Resort (CSLR). The FAAA has written to every federal member of parliament asking for their support in calling ...

E&P free of legacy issues, FUA jumps 26%

KARREN VERGARA  |  FRIDAY, 30 AUG 2024
... Association Australia (FAAA) general manager policy, advocacy, and standards Phil Anderson said there is $135 million in compensation related to Dixon Advisory the advice industry now must pay for under the Compensation Scheme of Last Resort (CSLR). ...

Australians robbed of super savings

ANDREW MCKEAN  |  WEDNESDAY, 28 AUG 2024
... regime that includes setting and measuring the originally promised targets, and to commit to helping workers seek compensation for their legal super entitlements in the case of insolvency. SMC chief executive Misha Schubert said the clock was ticking ...

ASIC scraps Libertas' AFSL for unpaid compensation

KARREN VERGARA  |  TUESDAY, 20 AUG 2024
... In a first for ASIC, Libertas Financial Planning's AFS Licence (AFSL) has been revoked for its failure to pay compensation as ordered by the Compensation Scheme of Last Resort (CSLR). Libertas, which went into liquidation in September 2023, failed ...

FAAA to work with Treasury on CSLR

ELIZA BAVIN  |  FRIDAY, 16 AUG 2024
... Australia (FAAA) said it has met with minister for financial services Stephen Jones to raise key concerns regarding the Compensation Scheme of Last Resort (CSLR). FAAA chief executive Sarah Abood and chair David Sharpe met with the minister to raise ...