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Showing 81 - 90 of 899 results for "Compensation"

Investments, advice complaints jump 18%

KARREN VERGARA  |  WEDNESDAY, 23 JUL 2025
... the customer's 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 ...

Adviser exodus puts retirement savings at risk: CPA

KARREN VERGARA  |  THURSDAY, 17 JUL 2025
... reforms must be 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 ...

AMP actions impacted 'hundreds of thousands' of customers: Shine

ELIZA BAVIN  |  FRIDAY, 4 JUL 2025
... superannuation savings were eroded due to excessive insurance fees. "This class action is about seeking justice and compensation for everyday Australians who trusted the AMP trustees to manage their retirement savings responsibly," Shine Lawyers special ...

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
... non-compliance." ASIC cancelled the Australian financial services licence of Brite Advisors after it failed to pay a compensation order upheld by the Australian Financial Complaints Authority in May. This led to a payout from the Compensation Scheme ...

AFCA urges adviser clarity on SMSF wholesale investor test

KARREN VERGARA  |  MONDAY, 23 JUN 2025
... complaint be accepted. AFCA does consider the complainant's sophistication when weighing the appropriate level of compensation if a complaint is upheld," they said. In August 2014, ASIC said it would not enforce the wholesale classification requirement ...

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

KARREN VERGARA  |  TUESDAY, 17 JUN 2025
... Association, the FAAA 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 ...

AIOFP, FAAA encouraged by first meeting with Mulino

KARREN VERGARA  |  FRIDAY, 6 JUN 2025
... matters facing the 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 ...

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 ...

State insurer names new CIO as government review looms

ELIZABETH FRY  |  THURSDAY, 15 MAY 2025
New Zealand's NZ$50 billion no-fault accident compensation scheme has appointed a new investment chief amid scrutiny. The Accident Compensation Corporation has appointed David Iverson as chief investment officer of its NZ$50bn fund as the state ...