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Showing 11 - 20 of 252 results for "Victims"

Jo-Anne Bloch to chair CSLR

CHLOE WALKER  |  TUESDAY, 27 FEB 2024
... 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 misconduct access to redress and compensation. Bloch, who was independently appointed by assistant treasurer ...

Five megatrends shaping financial services: McCrindle

CHLOE WALKER  |  FRIDAY, 23 FEB 2024
... in their businesses. "These trends can be influenced if understood and responded to," McCrindle said. "We're not just victims of trends- we can have influence and impact on what is to come." The first megatrend McCrindle highlighted is demographic growth. ...

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 ...

CSLR estimates $241m to fund backlog of complaints

JAMIE WILLIAMSON  |  TUESDAY, 9 JAN 2024
... expected to be paid within 30 days of receiving an invoice. A second instalment will be due in July 2024. Under the scheme, victims of financial misconduct will be eligible for payments up to $150,000. "We are pleased to announce this important milestone ...

AFCA amends consumer compensation caps

KARREN VERGARA  |  TUESDAY, 9 JAN 2024
... agreement, while 6% of cases progressed to a formal decision. Since launching, it has also worked with more than 16,500 victims of scams and more than 7500 people affected by natural disasters, excluding COVID-19.

Former director sentenced to over four years imprisonment

ANDREW MCKEAN  |  THURSDAY, 21 DEC 2023
... more than $520,000 from six investors, including three First Nations investors from rural New South Wales. He misled the victims by promising that their funds would be invested in property developments, however, only a small portion was invested accordingly. ...

Caddick SMSF clients should recoup all funds: Lawyer

KARREN VERGARA  |  FRIDAY, 15 DEC 2023
While there are good indications that Melissa Caddick's victims will recoup most of their funds, the lawyer spearheading the latest class action believes that SMSF clients should get all their money back. Michael Chapman, a director at Melbourne-based ...

CSLR chief executive named

JAMIE WILLIAMSON  |  FRIDAY, 8 DEC 2023
... the board of the CSLR. Rickard will take up the role in January. "The CSLR will play a very important role in helping victims of financial misconduct access redress and I very much look forward to contributing to this important work," Berry said. Meanwhile ...

AFCA secures $1.2bn in refunds

CASSANDRA BALDINI  |  TUESDAY, 21 NOV 2023
... firms resolve their differences," he said. AFCA reported that, since launching, it's worked with more than 16,500 victims of scams and more than 7500 people affected by natural disasters, excluding COVID-19. Further, it's helped more than 30,000 ...

Caddick victims sue auditors in class action

KARREN VERGARA  |  MONDAY, 30 OCT 2023
A new class action led by victims of Melissa Caddick alleges that auditors of their self-managed superannuation funds failed their jobs to detect fraudulent activities. Twenty-four victims, together with the help of Melbourne-based law firm Mackay Chapman ...