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Showing 21 - 30 of 138 results for "Compensation Scheme of Last Resort"

Most read in 2025: Financial advice

STAFF WRITER  |  FRIDAY, 19 DEC 2025
... $70m As new estimates showed financial advisers would have to fork out $70 million to fund the Compensation Scheme of Last Resort (CSLR) for FY26 - breaching the $20 million cap - Treasury offered some hope in finally calling for a review of the controversial ...

Super tax receipts to increase by $10.9bn

ELIZA BAVIN  |  THURSDAY, 18 DEC 2025
... Super Members Council (SMC) urged the government to rethink its decision to push the bill for Compensation Scheme of Last Resort (CSLR) costs onto Australians with super, saying it would be unfair considering super tax receipts are expected to reach ...

Mulino wants PII to step up to make CSLR sustainable

KARREN VERGARA  |  MONDAY, 15 DEC 2025
... professional indemnity insurance (PII) sector will be forced to play a bigger role in making the Compensation Scheme of Last Resort (CSLR) sustainable, Assistant Treasurer Daniel Mulino proposes, as the Opposition slams the scheme for "constantly running ...

Mulino taps super sector to help pay CSLR special levy

ELIZA BAVIN  |  WEDNESDAY, 10 DEC 2025
... Financial Services Daniel Mulino has suggested including APRA-regulated superannuation funds in the Compensation Scheme of Last Resort (CSLR) as the 2026 special levy has blown out to $47.3 million. Mulino added the government needs to act to strengthen ...

1659 First Guardian, Shield complaints reach AFCA

KARREN VERGARA  |  MONDAY, 8 DEC 2025
... who to complain against and they get intimidated by AFCA." Since launching in April 2024, the Compensation Scheme of Last Resort (CSLR) has received its 1000 th complaint as at November. CSLR chief executive David Berry told the event that he's observed ...

APRA-regulated funds should not pay CSLR special levy: SMC

MATTHEW WAI  |  MONDAY, 24 NOV 2025
... urging the government to carve out APRA-regulated super trustees' responsibility in the FY27 Compensation Scheme of Last Resort (CSLR) special levy, claiming that it will be a "clear breach" of the scheme's principle otherwise. The SMC pointed out that ...

Prevention of Shield, First Guardian-like events the focus from here on: Mulino

MATTHEW WAI  |  THURSDAY, 20 NOV 2025
... placing people in a situation similar to that of the victims, while simultaneously making the Compensation Scheme of Last Resort (CSLR) more sustainable. This week, the CSLR revealed that the estimated sub-sector levy payable by the financial advice ...

Estimated CSLR levy comes in at $127m for FY27

JAMIE WILLIAMSON  |  MONDAY, 17 NOV 2025
The Compensation Scheme of Last Resort (CSLR) is estimating the sub-sector levy to be payable by the financial advice industry in FY27 will be $126.9 million - but that doesn't account for First Guardian and Shield. In total, the initial estimate ...

ASIC bans adviser attached to UGC, MWL

ELIZA BAVIN  |  THURSDAY, 23 OCT 2025
... into speculative schemes. 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. Videkanic was later authorised by MWL Financial Services. ASIC says ...

Feature: Compliance | Passing the buck

ELIZA BAVIN  |  WEDNESDAY, 15 OCT 2025
... to ensure innocent advisers are not paying the price for the failings of others - with the Compensation Scheme of Last Resort (CSLR) bill already topping $67 thanks to other major collapses like Dixon Advisory, United Global Capital and Brite Advisory. ...