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Showing 1 - 10 of 756 results for "Compensation"

FAAA calls for 'fairness' ahead of Budget

ELIZA BAVIN  |  TUESDAY, 14 MAY 2024
... Financial Advice Association of Australia (FAAA) has called on the Federal government to better manage costs across the Compensation Scheme of Last Resort (CSLR) and implement a fairer ASIC funding levy for advisers. In its pre-budget submission, the ...

AFCA finds more Dixon Advisory victims

KARREN VERGARA  |  FRIDAY, 10 MAY 2024
... Sarah Abood is calling on assistant treasurer Stephen Jones to take action on the drastically escalating costs of the Compensation Scheme of Last Resort (CSLR). "This equates to a direct cost to every financial adviser of $4165 on top of what has already ...

AFCA and CSLR sign MoU

ELIZA BAVIN  |  THURSDAY, 9 MAY 2024
The Australian Financial Complaints Authority (AFCA) and Compensation Scheme of Last Resort (CSLR) have signed a Memorandum of Understanding (MoU) setting out how they will work together to support a fair and efficient financial services sector. The ...

Court approves $16m DASS settlement

KARREN VERGARA  |  FRIDAY, 19 APR 2024
... victims taking part in the class action in applying to the complaints authority seeking further redress under the Compensation Scheme of Last Resort (CSLR). Following further correspondence required by the judge, it was found that "each relevant complaint ...

State supports move to close super loophole exploited by paedophiles

ANDREW MCKEAN  |  WEDNESDAY, 17 APR 2024
... counterparts to adopt a policy to change superannuation laws so that survivors of child sexual abuse can receive appropriate compensation. "The horrendous scourge of child sexual abuse impacts the quality of life and the health of survivors in both the ...

FCA issues notices to Link Fund Solutions, Woodford

KARREN VERGARA  |  FRIDAY, 12 APR 2024
... failings which led to its investigation and subsequent agreement from Link to settle the enforcement case and provide compensation to those affected. In a separate action, the FCA issued warning notices to fund manager Neil Woodford and WIM proposing ...

Court delays DASS class action settlement approval

KARREN VERGARA  |  FRIDAY, 5 APR 2024
... comprises the glut of the Australian Financial Complaints Authority's complaints as well as the newly launched Compensation Scheme of Last Resort. Separately, E&P chief financial officer and joint company secretary Stephen Hill will leave the company ...

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 ...
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