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Showing 51 - 60 of 138 results for "Compensation Scheme of Last Resort"

ASIC cancels licence of Brite Advisors

ANDREW MCKEAN  |  MONDAY, 5 MAY 2025
... now-defunct 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 ...

Labor wins: What super, advice industries want

ELIZA BAVIN  |  MONDAY, 5 MAY 2025
... election, 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 ...

Spender criticises Labor's 'lack of urgency' on advice reforms

ELIZA BAVIN  |  THURSDAY, 17 APR 2025
... more movement. "I've made my commitment in this space to create a sustainable and fair Compensation Scheme of Last Resort (CSLR), because I think that is really important," she said. "We have already been engaging with the Assistant Treasurer on ...

Coalition targets 'ambitious' goal of 30k advisers

ELIZA BAVIN  |  TUESDAY, 15 APR 2025
... reform has been an afterthought for the Albanese government and the botched rollout of the Compensation Scheme of Last Resort has been a costly disaster" Howarth said. "Successive governments have piled on layers of new regulation and it is time for ...

UGC's AFCA membership to cease

KARREN VERGARA  |  MONDAY, 7 APR 2025
... complainants, AFCA needs to consider whether any UGC complaint it receives is within the scope of the Compensation Scheme of Last Resort (CSLR)," AFCA said. The failure of UGC is the main driver behind the spike in the 2026 CSLR levy estimates, tipped ...

CSLR costs driven by poor advice: AFCA

ELIZA BAVIN  |  TUESDAY, 1 APR 2025
... financial advisers that poor practices are the main contributor to the soaring costs of the Compensation Scheme of Last Resort (CSLR). "It's important to remember that, ultimately, the main driver of the cost of the scheme is flawed business models leading ...

Jones clarifies scope of new class of adviser

ANDREW MCKEAN  |  FRIDAY, 28 MAR 2025
... adviser could provide holistic personal retirement advice and acknowledged the need to reform the Compensation Scheme of Last Resort (CSLR) during a post-budget briefing with the Financial Services Council. Responding to concerns that collective charging ...

AIOFP and IFPA enter 'strategic alliance'

ELIZA BAVIN  |  FRIDAY, 14 MAR 2025
... reference to the inclusion of accountants to provide structural superannuation advice and the Compensation Scheme of Last Resort (CSLR)," the announcement said.

CSLR levy pain could hit $123m: FAAA

KARREN VERGARA  |  THURSDAY, 20 FEB 2025
The Compensation Scheme of Last Resort (CSLR) levy could potentially catapult to $123 million in the 2027 financial year, new estimates from the Financial Advice Association of Australia (FAAA) shows. Following the bombshell that the 2026 CSLR levy ...

FAAA 'frustrated' as Dixon inquiry delayed

ELIZA BAVIN  |  THURSDAY, 6 FEB 2025
... deferral, saying it was "frustrating". "In the context of the blow out in the cost of the [Compensation Scheme of Last Resort (CSLR)] and the overwhelming evidence of deep flaws in the design and implementation of the CSLR, this delay is very frustrating," ...