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Showing 31 - 40 of 138 results for "Compensation Scheme of Last Resort"

CSLR publishes paid claims details

JAMIE WILLIAMSON  |  FRIDAY, 26 SEP 2025
The Compensation Scheme of Last Resort (CSLR) has made 551 payments totalling $54 million since it began operating, some 291 of which were made in relation to Dixon Advisory. The overwhelming majority of payments relate to personal financial advice ...

AFCA temporarily reinstates UGC to address complaints

RIDDHIMA TALWANI  |  FRIDAY, 26 SEP 2025
... the industry for 10 years. 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.

ASIC chair calls it quits

KARREN VERGARA  |  FRIDAY, 19 SEP 2025
... Hayne Royal Commission, including massive contributions via the financial adviser levy and Compensation Scheme of Last Resort (CSLR), ASIC's effectiveness has come under fire in the wake of the Australian Fiduciaries, First Guardian and Shield Master ...

Equity Trustees slashes value of Shield investments

JAMIE WILLIAMSON  |  THURSDAY, 18 SEP 2025
... unsuited to deal with systemic product collapses." This, coupled with the shortcomings of the Compensation Scheme of Last Resort (CSLR) and its $150,000 cap per case, have them considering several other avenues for recourse. "If the government refuses ...

CSLR a 'shared responsibility' for all AFCA members: SMSFA

MATTHEW WAI  |  THURSDAY, 11 SEP 2025
Responding to the Treasury consultation on the Compensation Scheme of Last Resort (CSLR), the SMSF Association (SMSFA) agrees the most efficient and equitable way to fund the special levy is to spread it across all Australian Financial Complaints Authority ...

FAAA calls for other sectors to help pay $67m CSLR bill

ELIZA BAVIN  |  WEDNESDAY, 3 SEP 2025
In its submission to the Treasury consultation on the Compensation Scheme of Last Resort (CSLR) Special Levy for 2025/26, the Financial Advice Association Australia (FAAA) said financial advisers should not be expected to pay more than the $20 million ...

Government scraps inquiry into advice firm failures, Dixon Advisory

JAMIE WILLIAMSON  |  FRIDAY, 29 AUG 2025
... companies that would have dissected the collapse of firms like Dixon Advisory and the impact on the Compensation Scheme of Last Resort (CSLR). In September 2024, the government referred the inquiry to the Senate Economics References Committee, asking ...

Treasury launches consultation on CSLR breaching sub-sector levy caps

KARREN VERGARA  |  FRIDAY, 1 AUG 2025
Treasury today launched a consultation on the Compensation Scheme of Last Resort (CSLR), considering options on how to deal with estimates that have drastically exceeded sub-sector levy caps. Released late Friday, the consultation paper is seeking feedback ...

Mulino sits on Tranche 2 for now, grapples with complexity

KARREN VERGARA  |  WEDNESDAY, 30 JUL 2025
... fully digest all of those elements holistically." With respect to the sustainability of the Compensation Scheme of Last Resort (CSLR) and the ballooning costs borne by the financial advice industry, Mulino said without pre-judging the outcome of the ...

FAAA fights to reignite Dixon inquiry

MATTHEW WAI  |  THURSDAY, 24 JUL 2025
... failures like United Global Capital, has mounted enormous stress on the advice industry, with the Compensation Scheme of Last Resort (CSLR) levy continuing to surge through the $20 million sub-sector cap. Although CSLR aims to compensate victims who ...