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Showing 131 - 140 of 899 results for "Compensation"

FAAA calls on advisers: 'We ask for your support'

ELIZA BAVIN  |  FRIDAY, 9 AUG 2024
... it has been handled. Anderson said he is angry about the Dixon Advisory "debacle" and the impact it has had on the Compensation Scheme of Last Resort (CSLR). "Everywhere that we looked, we saw inequity and unfairness. The more we looked, the angrier ...

AFSLs can lose licence on CSLR intervention

KARREN VERGARA  |  WEDNESDAY, 7 AUG 2024
... professional indemnity insurers (PII) that fail to pay a determination will potentially see their licence revoked if the Compensation Scheme of Last Resort (CSLR) has to intervene. CSLR chief executive David Berry warned financial advisers of their obligations ...

New shadow assistant treasurer's vision for advice, super

ANDREW MCKEAN  |  WEDNESDAY, 31 JUL 2024
... of red tape, Howarth noted, having come from a small family business background, he was shocked to learn about the Compensation Scheme of Last Resort (CSLR), which makes people pay for others' mistakes. "It was crazy to me," Howarth said. Nevertheless ...

AFCA caps Dixon claimants at 2773

KARREN VERGARA  |  FRIDAY, 12 JUL 2024
Total compensation for Dixon Advisory victims has reached $338.6 million as the Australian Financial Complaints Authority (AFCA) caps the total number of complainants at 2773. The Financial Advice Association Australia (FAAA) calculates that the financial ...

Regulation, profitability top adviser worries: BT

KARREN VERGARA  |  TUESDAY, 9 JUL 2024
... on year. Uncertainty around the outcome of the Quality of Advice Review (QAR) is worrisome for advisers as is the Compensation Scheme of Last Resort (CSLR), which imposes another levy on the sector of $18.5 million for the 2025 financial year. Only 26% ...

Committee calls for 'sick agency' ASIC to be split in half

JAMIE WILLIAMSON  |  THURSDAY, 4 JUL 2024
... where addressing the misconduct would result in a significant public benefit. It should also look at introducing compensation options for whistleblowers who are unable to make such disclosures without putting themselves at significant risk, such as harming ...

New recruits top advice industry priority: FAAA

KARREN VERGARA  |  FRIDAY, 28 JUN 2024
... only continues to skyrocket, not only from layers of red tape but exorbitant levies advisers are forced to pay. The Compensation Scheme of Last Resort (CSLR) will soon charge the advice sector $18.5 million to cover the period July 1 to 30 June 2025. ...

AustralianSuper bears brunt of complaints: AFCA

KARREN VERGARA  |  TUESDAY, 11 JUN 2024
... (0.89%). Victims of Dixon Advisory continued to file complaints with AFCA as 52 registered their issues and sought compensation. AMP Financial Planning recorded 19 complaints, 10 of which closed at case management stage. Advice Essentials and Madison ...

CSLR makes inaugural payments

KARREN VERGARA  |  TUESDAY, 11 JUN 2024
The Compensation Scheme of Last Resort (CSLR) made its first payments to four victims totalling more than $360,000, three of which related to bad financial advice. One payout of about $145,000 related to inappropriate personal financial advice provided ...

Pollaers to chair AFCA for another three years

JAMIE WILLIAMSON  |  THURSDAY, 6 JUN 2024
... Pollaers took on the role of chair, AFCA has received more than 270,000 complaints, with over $775 million being paid in compensation to individual consumers and small business owners. In addition to AFCA, Pollaers serves as chancellor of Swinburne University ...