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Showing 151 - 160 of 899 results for "Compensation"

CSLR kicks off, 2k await compensation

KARREN VERGARA  |  TUESDAY, 2 APR 2024
The Compensation Scheme of Last Resort (CSLR) today opened its doors, ready to compensate about 2000 claimants who have long waited for redress. Inaugural CSLR chief executive David Berry told a media briefing: "We look forward to supporting a number ...

AFCA flags legal uncertainty on SMSF wholesale test

KARREN VERGARA  |  THURSDAY, 28 MAR 2024
... was one such matter." AFCA ultimately found that the complainant was provided general advice and not entitled to compensation. In the determination, the ombudsman "considered whether the general advice had otherwise been provided appropriately with reasonable ...

Inaugural CSLR levy slugs advisers $18.5m

KARREN VERGARA  |  TUESDAY, 19 MAR 2024
The financial advice industry will be forced to pay $18.5 million to fund the Compensation Scheme of Last Resort's (CSLR) first year of operation, drawing outrage from the sector. The government released its estimates for the first and second phase ...

Mayfair 101 regains control of assets, liquidators abandon claims

JAMIE WILLIAMSON  |  MONDAY, 18 MAR 2024
... and even the residents of Mission Beach who agreed to sell us their homes. Mayfair 101 and all our lenders deserve compensation for what has occurred."

DASS settlement pending court approval, victims urged to claim

KARREN VERGARA  |  WEDNESDAY, 28 FEB 2024
... point may not be able to participate in the Commonwealth Government-operated CSLR. "The CSLR is designed to pay out compensation awarded by AFCA where the financial firm in question has entered external administration. It is unlikely Dixon Advisory will ...

Jo-Anne Bloch to chair CSLR

CHLOE WALKER  |  TUESDAY, 27 FEB 2024
... Association of Australia (FPA) chief executive Jo-Anne Bloch has been appointed by the Albanese government to lead its Compensation Scheme of Last Resort (CLSR). The scheme, which officially kicks off on April 2, aims to give victims of financial services ...

Rest faces class action over IP premiums

CHLOE WALKER  |  MONDAY, 19 FEB 2024
... down the drain for fund members who paid a premium for no benefit," Boustani said. "As a result, we're seeking compensation for insurance premiums which we allege were unfairly deducted, as well as investment returns and administration costs." The ...

DASS compensation drags AFCA, lead decision published

KARREN VERGARA  |  FRIDAY, 16 FEB 2024
Compensating Dixon Advisory and Superannuation Services (DASS) victims continues to eat up the Australian Financial Complaints Authority's (AFCA) time and resources, so much so that a "lead decision" has been published to expedite the process. The complaints ...

Too many Aussies eligible for wholesale products: FSC

ANDREW MCKEAN  |  TUESDAY, 13 FEB 2024
... and Distribution Obligations (DDO), bans of conflicted remuneration, dispute resolution mechanisms, and access to a compensation scheme of last resort under certain circumstances. "The FSC is urging the government to use a scalpel, not a sledgehammer ...

Highest paid industry super executives revealed

ANDREW MCKEAN  |  FRIDAY, 9 FEB 2024
... Standard. AustralianSuper chief investment officer Mark Delaney was the top earner, receiving over $2 million in total compensation, according to research from professional services firm Yellow Folder. UniSuper chief investment officer John Pearce and ...