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Showing 51 - 60 of 899 results for "Compensation"

Diversa to 'vigorously defend' ASIC allegations

KARREN VERGARA  |  WEDNESDAY, 10 DEC 2025
... adequate ongoing monitoring. The regulator ultimately wants pecuniary penalties and orders requiring Diversa to pay compensation for member losses suffered in respect of First Guardian. Diversa said it has "fully cooperated with ASIC's investigation ...

Mulino taps super sector to help pay CSLR special levy

ELIZA BAVIN  |  WEDNESDAY, 10 DEC 2025
... Minister for Financial 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 ...

ASIC sues Diversa for First Guardian failures

KARREN VERGARA  |  TUESDAY, 9 DEC 2025
... taking action against Diversa, ASIC deputy chair Sarah Court said: "This action furthers ASIC's commitment to seek compensation for the victims of the Shield and First Guardian collapses wherever possible. Our first priority has been preserving assets ...

1659 First Guardian, Shield complaints reach AFCA

KARREN VERGARA  |  MONDAY, 8 DEC 2025
... had to develop efficiencies in terms of how we deal with these matters quickly, because people are waiting to get compensation, and that causes stress in itself," Singh said. "We've had to work out how to deal with administrators and to get information ...

Shield proposes to liquidate equities to pay investors

KARREN VERGARA  |  WEDNESDAY, 3 DEC 2025
... the form of distributions or other payments from the SMF or via legal claims against Keystone as creditors seeking compensation for any losses that investors have suffered because of the way that Keystone operated the SMF. Alvarez & Marsal noted that ...

TelstraSuper members caught off guard by Direct Access closure

JAMIE WILLIAMSON  |  TUESDAY, 25 NOV 2025
... compromises their retirement savings and describing the treatment of members as unacceptable. "Forced selling with little compensation [and not] being offered to rollover to equivalent alternative fund with similar features at no cost or loss to current ...

APRA-regulated funds should not pay CSLR special levy: SMC

MATTHEW WAI  |  MONDAY, 24 NOV 2025
... Members Council (SMC) is urging 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. ...

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

MATTHEW WAI  |  THURSDAY, 20 NOV 2025
... said it will prevent placing 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 ...

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 ...

Cbus agrees to pay $23.5m fine

ELIZA BAVIN  |  FRIDAY, 31 OCT 2025
... Financial Standard the super fund co-operated with the regulator throughout the legal process and has agreed to pay compensation to impacted members, families and beneficiaries. Compensation is believed to be in the realm of $32 million. "We have taken ...