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Showing 41 - 50 of 138 results for "CSLR"

Mulino taps super sector to help pay CSLR special levy

ELIZA BAVIN  |  WEDNESDAY, 10 DEC 2025
... 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 consumer ...

1659 First Guardian, Shield complaints reach AFCA

KARREN VERGARA  |  MONDAY, 8 DEC 2025
... 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
... 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 the ...

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

MATTHEW WAI  |  THURSDAY, 20 NOV 2025
... 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 industry ...

Conaghan holds ASIC accountable for Shield, First Guardian mess

KARREN VERGARA  |  THURSDAY, 20 NOV 2025
... biggest group that needs to answer for their failing, in my view, is ASIC," he warned. "If there was any justice, part of the CSLR burden would be on ASIC and not the advisers who did nothing wrong. ASIC was too slow out of the gates. They can deny all ...

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
... 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 while ...

Feature: Compliance | Passing the buck

ELIZA BAVIN  |  WEDNESDAY, 15 OCT 2025
... 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. ...

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
... 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.