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Showing 21 - 30 of 41 results for "CSLR"

Review of managed investment schemes kicks off

JAMIE WILLIAMSON  |  THURSDAY, 9 MAR 2023
... won't consider, which includes whether schemes should be brought within the scope of the Compensation Scheme of Last Resort (CSLR), legislation for which was once again introduced to Parliament just yesterday. This will come as a blow to the likes ...

Government introduces FAR, CSLR Bills

ANDREW MCKEAN  |  WEDNESDAY, 8 MAR 2023
... powers to disqualify accountable persons and direct entities to reallocate responsibilities to address risks. Meanwhile, the CSLR aims to provide monetary compensation to eligible consumers when a relevant entity fails to pay an AFCA determination awarding ...

More DASS complainants flock to AFCA

KARREN VERGARA  |  MONDAY, 6 FEB 2023
... "lodging a complaint with AFCA is a necessary step for clients to preserve their possible eligibility under a potential future CSLR". The Federal Court recently ordered Dixon Advisory to pay $7.2 million for failing to act in the best interest of eight ...

All financial advice should be tax deductible: FPA

CASSANDRA BALDINI  |  FRIDAY, 3 FEB 2023
... assets come retirement. The FPA said it broadly supports the decision to implement the Compensation Scheme of Last Resort (CSLR) following the Royal Commission but added the government's proposed model is based on recommendations from "an ageing report" ...

Former DASS clients flood AFCA with complaints

JAMIE WILLIAMSON  |  TUESDAY, 8 NOV 2022
... compensation will depend on the individual circumstances of the advice that they were given, as well as the scope and operation of a CSLR," AFCA said. "Additionally, AFCA will also review the pause on complaints against Dixon Advisory when the outcome ...

FPA seeks broader scope for CSLR

CHLOE WALKER  |  MONDAY, 10 OCT 2022
... Association of Australia (FPA) has called on the federal government to broaden its proposed compensation scheme of last resort (CSLR) and to extend the ASIC levy freeze for advisers for another year. The FPA believes that the current CSLR Bill is too ...

CSLR legislation tabled, advice sector responds

ANDREW MCKEAN  |  FRIDAY, 9 SEP 2022
The government has advanced its commitment to establish a Compensation Scheme of Last Resort (CSLR), releasing for consultation exposure draft regulations. The CSLR will facilitate the payment of compensation of up to $150,000 to eligible consumers ...

CSLR establishment is critical: FPA

CHLOE WALKER  |  FRIDAY, 12 AUG 2022
... Planning Association of Australia (FPA) has called out the urgent need for a broad-based Compensation Scheme of Last Resort (CSLR) following ASIC's recent notice for former Dixon Advisory clients to register any complaints with the Australian Financial ...

Contact AFCA now: ASIC urges Dixon Advisory clients

JAMIE WILLIAMSON  |  THURSDAY, 4 AUG 2022
... for compensation also rests on the individual circumstances of the advice provided, the final scope and operation of the CSLR, and the outcome of Dixon Advisory's ongoing administration process. Many of these same factors will also influence what action ...

CSLR will not fully protect investors

KARREN VERGARA  |  WEDNESDAY, 16 FEB 2022
... and maintain a scheme that will only do part of the job, she added. CHOICE chief executive Alan Kirkland commented that the CSLR will be important in the event of financial misconduct compensation, pointing to the recent collapse of Dixon Advisory as ...