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Showing 71 - 80 of 899 results for "Compensation"

ASIC chair calls it quits

KARREN VERGARA  |  FRIDAY, 19 SEP 2025
... record funding since the Hayne Royal Commission, including massive contributions via the financial adviser levy and Compensation Scheme of Last Resort (CSLR), ASIC's effectiveness has come under fire in the wake of the Australian Fiduciaries, First ...

Equity Trustees slashes value of Shield investments

JAMIE WILLIAMSON  |  THURSDAY, 18 SEP 2025
... AFCA is "structurally unsuited to deal with systemic product collapses." This, coupled with the shortcomings of the Compensation Scheme of Last Resort (CSLR) and its $150,000 cap per case, have them considering several other avenues for recourse. "If ...

AMP settles class action for $120m

ELIZA BAVIN  |  MONDAY, 15 SEP 2025
... their retirement savings managed with integrity and diligence. We are proud to have helped deliver accountability and compensation to those affected." The settlement, subject to Federal Court approval, will provide financial redress to eligible AMP superannuation ...

CSLR a 'shared responsibility' for all AFCA members: SMSFA

MATTHEW WAI  |  THURSDAY, 11 SEP 2025
Responding to the Treasury consultation on the Compensation Scheme of Last Resort (CSLR), the SMSF Association (SMSFA) agrees the most efficient and equitable way to fund the special levy is to spread it across all Australian Financial Complaints Authority ...

FAAA calls for other sectors to help pay $67m CSLR bill

ELIZA BAVIN  |  WEDNESDAY, 3 SEP 2025
In its submission to the Treasury consultation on the Compensation Scheme of Last Resort (CSLR) Special Levy for 2025/26, the Financial Advice Association Australia (FAAA) said financial advisers should not be expected to pay more than the $20 million ...

Government scraps inquiry into advice firm failures, Dixon Advisory

JAMIE WILLIAMSON  |  FRIDAY, 29 AUG 2025
... wealth management companies that would have dissected the collapse of firms like Dixon Advisory and the impact on the Compensation Scheme of Last Resort (CSLR). In September 2024, the government referred the inquiry to the Senate Economics References ...

NGS Super aligns leadership team for growth

MATTHEW WAI  |  MONDAY, 11 AUG 2025
... officer, bringing over 25 years of experience across life insurance, general insurance, superannuation and workers' compensation. Kotsilas replaces Philippa Minney who has shifted into the role of chief financial officer. She was most recently the deputy ...

Treasury launches consultation on CSLR breaching sub-sector levy caps

KARREN VERGARA  |  FRIDAY, 1 AUG 2025
Treasury today launched a consultation on the Compensation Scheme of Last Resort (CSLR), considering options on how to deal with estimates that have drastically exceeded sub-sector levy caps. Released late Friday, the consultation paper is seeking feedback ...

Mulino sits on Tranche 2 for now, grapples with complexity

KARREN VERGARA  |  WEDNESDAY, 30 JUL 2025
... that people can then fully digest all of those elements holistically." With respect to the sustainability of the Compensation Scheme of Last Resort (CSLR) and the ballooning costs borne by the financial advice industry, Mulino said without pre-judging ...

FAAA fights to reignite Dixon inquiry

MATTHEW WAI  |  THURSDAY, 24 JUL 2025
... with other similar failures 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 ...