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Showing 31 - 40 of 65 results for %22Compensation Scheme of Last Resort%22

Hume throws shade at trustee rainy day funds

KARREN VERGARA  |  MONDAY, 22 NOV 2021
... to take action. And the Parliament might too," Hume warned. Elsewhere in her speech, Hume assured that the Compensation Scheme of Last Resort does not let banks off the hook. CSLR, which covers unpaid compensation awarded as a result of misconduct relating ...

Government advances adviser levy drop

KARREN VERGARA  |  THURSDAY, 11 NOV 2021
... reforms making their way through the Parliament, including the introduction of a Single Disciplinary Body and a Compensation Scheme of Last Resort," treasurer Josh Frydenberg and senator Jane Hume said at the time.

Major legislations hit parliament

KARREN VERGARA  |  FRIDAY, 29 OCT 2021
Two major pieces of legislation have been introduced in parliament, including the Compensation Scheme of Last Resort. The scheme facilitates the reimbursement of up to $150,000 to compensate consumers affected by bad personal advice, credit intermediation ...

Sally Loane resigns as FSC chief

JAMIE WILLIAMSON  |  FRIDAY, 22 OCT 2021
... initiating life insurance's Trowbridge Review, developing the life Codes, and advocating for a sensible Compensation Scheme of Last Resort," she said. "I have enjoyed working collaboratively with industry organisations here and overseas, regulators ...

Industry calls for expanded CSLR

ANNABELLE DICKSON  |  WEDNESDAY, 6 OCT 2021
Professional associations and consumer groups have banded together to lobby for a stronger compensation scheme of last resort ahead of its expected legislation in the coming weeks. The Financial Planning Association of Australia, Association of Financial ...

FSC suggests CSLR improvements

KARREN VERGARA  |  MONDAY, 20 SEP 2021
The Financial Services Council has highlighted numerous holes in the Compensation Scheme of Last Resort in a bid to prevent financial advisers that "have done nothing wrong" from paying for the scheme. The FSC is calling on corporate regulator ASIC ...

Financial adviser levy to drop

JAMIE WILLIAMSON  |  MONDAY, 30 AUG 2021
... reforms making their way through the Parliament, including the introduction of a Single Disciplinary Body and a Compensation Scheme of Last Resort," Frydenberg and Hume said. Treasury will also review the ASIC Industry Funding Model, commencing in 2022 ...

CSLR unfairly locks out some victims: Maurice Blackburn

ELIZABETH MCARTHUR  |  MONDAY, 16 AUG 2021
The Compensation Scheme of Last Resort (CSLR) will lock out victims of financial misconduct or fraud who pursue court proceedings - something that is inherently unfair, according to law firm Maurice Blackburn. Maurice Blackburn principal lawyer Josh ...

Industry associations slam last resort scheme

KARREN VERGARA  |  FRIDAY, 13 AUG 2021
Major professional associations have united to rally against the newly proposed compensation scheme of last resort. The Chartered Accountants Australia and New Zealand, CPA Australia, Financial Planning Association of Australia, Institute of Public ...

CSLR raises concern among advisers

KARREN VERGARA  |  FRIDAY, 23 JUL 2021
... Association of Financial Advisers (AFA) has raised concerns about the cost of the government's proposed Compensation Scheme of Last Resort and the fact that super funds and managed investment schemes are excluded from the proposed regulation. The ...