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

Search Results

Showing 161 - 170 of 3204 results for "Scheme"

CSLR publishes paid claims details

JAMIE WILLIAMSON  |  FRIDAY, 26 SEP 2025
The Compensation Scheme of Last Resort (CSLR) has made 551 payments totalling $54 million since it began operating, some 291 of which were made in relation to Dixon Advisory. The overwhelming majority of payments relate to personal financial advice ...

AFCA temporarily reinstates UGC to address complaints

RIDDHIMA TALWANI  |  FRIDAY, 26 SEP 2025
... from working in the industry for 10 years. The failure of UGC has been a key driver of the spike in the 2026 Compensation Scheme of Last Resort (CSLR) levy estimates, tipped to be around $70 million.

Macquarie to pay Shield victims in full

JAMIE WILLIAMSON  |  THURSDAY, 25 SEP 2025
... "This is a very good outcome for these clients who have been so badly impacted by the collapse of this [managed investment scheme]. Hopefully this will provide relief for them in what has been a very difficult and challenging experience," he said. "We ...

GIM director slapped with travel restraints

KARREN VERGARA  |  WEDNESDAY, 24 SEP 2025
... barred from leaving the country for the next six months as ASIC alleges he misappropriated money via a sham bond investment scheme. ASIC did not provide details behind its allegations other than saying it sought the orders as part of an "investigation ...

Shield collapse brings wholesale governance to the forefront

RIDDHIMA TALWANI  |  WEDNESDAY, 24 SEP 2025
The failures of Shield Master Fund and First Guardian Master Fund has pushed governance to the forefront - particularly among wholesale investors, according to Magellan Financial Group. Sophia Rahmani, chief executive and managing director of Magellan ...

MSC awarded dual mandate from newly established litigation funder

MATTHEW WAI  |  MONDAY, 22 SEP 2025
... Litigation Fund 1 commenced fundraising earlier this month and is structured as an unregistered wholesale managed investment scheme. The fund will invest in a diversified portfolio of litigation funding assets, including class actions and insolvency-related ...

ASIC issues interim stop orders to RELI Capital

RIDDHIMA TALWANI  |  FRIDAY, 19 SEP 2025
ASIC has issued an interim stop order against the RELI Capital Mortgage Fund, a registered managed investment scheme operated by RELI Capital. The regulator said it is to protect consumers and retail investors from acquiring a product not suitable for ...

ASIC chair calls it quits

KARREN VERGARA  |  FRIDAY, 19 SEP 2025
... funding since the Hayne Royal Commission, including massive contributions via the financial adviser levy and Compensation Scheme of Last Resort (CSLR), ASIC's effectiveness has come under fire in the wake of the Australian Fiduciaries, First Guardian ...

Equity Trustees slashes value of Shield investments

JAMIE WILLIAMSON  |  THURSDAY, 18 SEP 2025
... "structurally unsuited to deal with systemic product collapses." This, coupled with the shortcomings of the Compensation Scheme of Last Resort (CSLR) and its $150,000 cap per case, have them considering several other avenues for recourse. "If the government ...

CSLR a 'shared responsibility' for all AFCA members: SMSFA

MATTHEW WAI  |  THURSDAY, 11 SEP 2025
Responding to the Treasury consultation on the Compensation Scheme of Last Resort (CSLR), the SMSF Association (SMSFA) agrees the most efficient and equitable way to fund the special levy is to spread it across all Australian Financial Complaints Authority ...