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Showing 11 - 20 of 201 results for "Indemnity"

InterPrac hit with $22m in AFCA complaints

KARREN VERGARA  |  FRIDAY, 8 AUG 2025
... including auditors and superannuation trustees. Sequoia also said the financial outcome depends on the professional indemnity insurance from relevant parties and existing legislation that protects members within the superannuation framework. "AFCA has ...

FSC explores if adviser licensing framework remains 'fit for purpose'

MATTHEW WAI  |  MONDAY, 28 JUL 2025
... CoreData and explores how various issues such as industry fragmentation, varied financial requirements and professional indemnity insurance coverage are combining to increase systemic risk in the financial advice industry. Central to this is a growing ...

ASIC cancels Financial Services Group Australia's AFSL

KARREN VERGARA  |  MONDAY, 16 JUN 2025
... specified that FSGA must remain a member of the Australian Financial Complaints Authority (AFCA) and maintain professional indemnity insurance until 4 June 2026.

Count Financial class action dismissed

ELIZA BAVIN  |  WEDNESDAY, 28 MAY 2025
... when it was acquired by CountPlus. CBA has acknowledged the court's decision to dismiss the case. CBA had provided an indemnity to CountPlus of $300 million for the conduct that occurred prior to and after the acquisition.

Vision Super defends new but 'archaic' policy

ELIZA BAVIN  |  TUESDAY, 13 MAY 2025
... Vision Super? If you've got offshore staff, I've got cyber insurance for all that type of stuff, there's no indemnity or liability to Vision Super because the clients have signed the form to give access," he said. "I would understand it more ...

TPB welcomes stay of sanctions against disqualified agents

MATTHEW WAI  |  THURSDAY, 16 JAN 2025
... and Tax on the Beach, to have failed to comply with tax obligations. They also did not have appropriate professional indemnity insurance coverage and misled investigators. Similarly, Kambourakis were found to have breached compliance obligations and ...

Firms treat CSLR as 'insurance policy': FAAA

KARREN VERGARA  |  MONDAY, 2 DEC 2024
... Advice for similar reasons in which the CSLR ended up paying $62,421 to compensate a victim. The role of professional indemnity (PI) insurance in the compensation process was also put under the microscope. The PI insurer for Dixon Advisory, for example ...

ISG ordered to wind up managed investment schemes

ELIZA BAVIN  |  FRIDAY, 4 OCT 2024
... audit and financial reporting lodgement obligations for itself and the schemes, and did not have required professional indemnity insurance coverage in place between 14 July 2020 and 21 June 2021. The licence suspension was revoked on 6 February 2023 ...

ASIC scraps Libertas' AFSL for unpaid compensation

KARREN VERGARA  |  TUESDAY, 20 AUG 2024
... correctional order, including home detention. CSLR chief executive David Berry recently warned AFSLs and their professional indemnity insurers (PII) that fail to pay a determination under the scheme will see their licence revoked. While the cancellation ...

AFSLs can lose licence on CSLR intervention

KARREN VERGARA  |  WEDNESDAY, 7 AUG 2024
AFS Licensees (AFSLs) and their 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 ...