Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 41 - 50 of 121 results for "CSLR"

FAAA fights to reignite Dixon inquiry

MATTHEW WAI  |  THURSDAY, 24 JUL 2025
... 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 are primarily ...

Adviser exodus puts retirement savings at risk: CPA

KARREN VERGARA  |  THURSDAY, 17 JUL 2025
... by the government, he urged, namely finalising the post-implementation review of the Compensation Scheme of Last Resort (CSLR), updating financial advice education standards and changing the financial advice best interest duty. "Investing retirement ...

CSLR releases revised levy estimate

ELIZA BAVIN  |  FRIDAY, 4 JUL 2025
The Compensation Scheme of Last Resort (CSLR) has released a FY26 revised levy estimate, coming down slightly from the figure estimated in January. The CSLR said the need for a revised estimate was triggered due to the initial levy estimate, issued ...

Firms rebuffing AFCA determinations should be named: FAAA, professional bodies

KARREN VERGARA  |  TUESDAY, 17 JUN 2025
... expressed concerns that failure to "pay AFCA determinations and the resultant impact on the Compensation Scheme of Last Resort (CSLR) is a particularly important issue for our organisations and our members." "Financial advisers are evidently covering ...

AIOFP, FAAA encouraged by first meeting with Mulino

KARREN VERGARA  |  FRIDAY, 6 JUN 2025
... Meeting at Mulino's Melbourne office, some of the AIOFP's top priorities were the Compensation Scheme of Last Resort (CSLR), Life Insurance Framework (LIF) and rationalisation of the compliance regime. AIOFP executive director Peter Johnston ...

CSLR levy underspend expected as claim processing slows

ANDREW MCKEAN  |  WEDNESDAY, 28 MAY 2025
The Compensation Scheme of Last Resort (CSLR) is set to underspend its $24.1 million FY25 levy. The CSLR said that while the claim volume originally estimated in December 2023 is still expected to eventuate, claims have taken longer than anticipated ...

Advice bodies want efficiency, long-term solutions from Mulino

KARREN VERGARA  |  WEDNESDAY, 14 MAY 2025
... new financial services minister Daniel Mulino, optimistic that critical reforms in the Compensation Scheme of Last Resort (CSLR) and Delivering Better Financial Outcomes (DBFO) will be prioritised. Mulino was sworn in as assistant treasurer and minister ...

Reducing super tax cap to $2m 'a concern': FAAA

ELIZA BAVIN  |  FRIDAY, 9 MAY 2025
... members, the five key asks of the new financial services minister will be to fix the Compensation Scheme of Last Resort (CSLR); provide advisers access to the ATO portal; deliver effective Delivering Better Financial Outcomes (DBFO) reforms and implement ...

ASIC cancels licence of Brite Advisors

ANDREW MCKEAN  |  MONDAY, 5 MAY 2025
... investment and pension firm failed to compensate a client, triggering a payout under the Compensation Scheme of Last Resort (CSLR). The regulator cancelled Brite Advisors' licence on April 29, after the CSLR paid $21,888 to a client who'd won a complaint ...

Labor wins: What super, advice industries want

ELIZA BAVIN  |  MONDAY, 5 MAY 2025
... the FAAA outlined five priority actions for the next government, including fixing the Compensation Scheme of Last Resort (CSLR), providing adviser access to the ATO portal, delivering effective DBFO reforms and implement a standardised fee consent form ...