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Showing 41 - 50 of 138 results for "Compensation Scheme of Last Resort"

Investments, advice complaints jump 18%

KARREN VERGARA  |  WEDNESDAY, 23 JUL 2025
... best interest," AFCA chief executive David Locke said. "This only highlights the need for the Compensation Scheme of Last Resort for victims of unlawful advice." Conversely, superannuation complaints dropped 16% year on year to 6164, while life insurance-related ...

Adviser exodus puts retirement savings at risk: CPA

KARREN VERGARA  |  THURSDAY, 17 JUL 2025
... prioritised 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 ...

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 ...

Brite Advisors auditor admits failures, surrenders registration

ANDREW MCKEAN  |  FRIDAY, 27 JUN 2025
... upheld by the Australian Financial Complaints Authority in May. This led to a payout from the Compensation Scheme of Last Resort. Brite Advisors entered court-ordered liquidation in February last year after the regulator discovered a significant shortfall ...

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
... industry. 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 ...

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
... under 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 ...

Daniel Mulino takes over financial services portfolio

JAMIE WILLIAMSON  |  TUESDAY, 13 MAY 2025
... Abood said she is looking forward to working with him on areas in need of reform, like the Compensation Scheme of Last Resort and the Delivering Better Financial Outcomes legislation. "These are priorities that our members are keen to see addressed quickly ...

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

ELIZA BAVIN  |  FRIDAY, 9 MAY 2025
... engaging with 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 ...