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Showing 121 - 130 of 935 results for "Compensation"

Brite Advisors auditor admits failures, surrenders registration

ANDREW MCKEAN  |  FRIDAY, 27 JUN 2025
... non-compliance." ASIC cancelled the Australian financial services licence of Brite Advisors after it failed to pay a compensation order upheld by the Australian Financial Complaints Authority in May. This led to a payout from the Compensation Scheme ...

AFCA urges adviser clarity on SMSF wholesale investor test

KARREN VERGARA  |  MONDAY, 23 JUN 2025
... complaint be accepted. AFCA does consider the complainant's sophistication when weighing the appropriate level of compensation if a complaint is upheld," they said. In August 2014, ASIC said it would not enforce the wholesale classification requirement ...

Firms rebuffing AFCA determinations should be named: FAAA, professional bodies

KARREN VERGARA  |  TUESDAY, 17 JUN 2025
... Association, the FAAA expressed concerns that failure to "pay AFCA determinations and the resultant impact on the Compensation Scheme of Last Resort (CSLR) is a particularly important issue for our organisations and our members." "Financial advisers ...

AIOFP, FAAA encouraged by first meeting with Mulino

KARREN VERGARA  |  FRIDAY, 6 JUN 2025
... matters facing the industry. Meeting at Mulino's Melbourne office, some of the AIOFP's top priorities were the Compensation Scheme of Last Resort (CSLR), Life Insurance Framework (LIF) and rationalisation of the compliance regime. AIOFP executive ...

CSLR levy underspend expected as claim processing slows

ANDREW MCKEAN  |  WEDNESDAY, 28 MAY 2025
The Compensation Scheme of Last Resort (CSLR) is set to underspend its $24.1 million FY25 levy. The CSLR said that while the claim volume originally estimated in December 2023 is still expected to eventuate, claims have taken longer than anticipated ...

State insurer names new CIO as government review looms

ELIZABETH FRY  |  THURSDAY, 15 MAY 2025
New Zealand's NZ$50 billion no-fault accident compensation scheme has appointed a new investment chief amid scrutiny. The Accident Compensation Corporation has appointed David Iverson as chief investment officer of its NZ$50bn fund as the state ...

Advice bodies want efficiency, long-term solutions from Mulino

KARREN VERGARA  |  WEDNESDAY, 14 MAY 2025
... changes to take place under new financial services minister Daniel Mulino, optimistic that critical reforms in the Compensation Scheme of Last Resort (CSLR) and Delivering Better Financial Outcomes (DBFO) will be prioritised. Mulino was sworn in as assistant ...

Daniel Mulino takes over financial services portfolio

JAMIE WILLIAMSON  |  TUESDAY, 13 MAY 2025
... chief executive Sarah Abood said she is looking forward to working with him on areas in need of reform, like the Compensation Scheme of Last Resort and the Delivering Better Financial Outcomes legislation. "These are priorities that our members are keen ...

Reducing super tax cap to $2m 'a concern': FAAA

ELIZA BAVIN  |  FRIDAY, 9 MAY 2025
... Abood said after engaging with members, the five key asks of the new financial services minister will be to fix the Compensation Scheme of Last Resort (CSLR); provide advisers access to the ATO portal; deliver effective Delivering Better Financial Outcomes ...

ASIC cancels licence of Brite Advisors

ANDREW MCKEAN  |  MONDAY, 5 MAY 2025
... Advisors after the now-defunct investment and pension firm failed to compensate a client, triggering a payout under the Compensation Scheme of Last Resort (CSLR). The regulator cancelled Brite Advisors' licence on April 29, after the CSLR paid $21,888 ...