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Showing 1 - 10 of 36 results for "CSLR"

Court approves $16m DASS settlement

KARREN VERGARA  |  FRIDAY, 19 APR 2024
... class action in applying to the complaints authority seeking further redress under the Compensation Scheme of Last Resort (CSLR). Following further correspondence required by the judge, it was found that "each relevant complaint will be assessed by AFCA ...

CSLR kicks off, 2k await compensation

KARREN VERGARA  |  TUESDAY, 2 APR 2024
The Compensation Scheme of Last Resort (CSLR) today opened its doors, ready to compensate about 2000 claimants who have long waited for redress. Inaugural CSLR chief executive David Berry told a media briefing: "We look forward to supporting a number ...

Inaugural CSLR levy slugs advisers $18.5m

KARREN VERGARA  |  TUESDAY, 19 MAR 2024
The financial advice industry will be forced to pay $18.5 million to fund the Compensation Scheme of Last Resort's (CSLR) first year of operation, drawing outrage from the sector. The government released its estimates for the first and second phase ...

DASS settlement pending court approval, victims urged to claim

KARREN VERGARA  |  WEDNESDAY, 28 FEB 2024
... clients who have not brought a claim by that point may not be able to participate in the Commonwealth Government-operated CSLR. "The CSLR is designed to pay out compensation awarded by AFCA where the financial firm in question has entered external administration. ...

Jo-Anne Bloch to chair CSLR

CHLOE WALKER  |  TUESDAY, 27 FEB 2024
... scheme at its inception and beyond," Jones said. "The government congratulates Ms Bloch on her appointment to the board." CSLR said Bloch is an accomplished leader with well-rounded experience and is an invaluable addition to its three-person board. ...

Former UniSuper chief appointed to CSLR board

ANDREW MCKEAN  |  TUESDAY, 16 JAN 2024
Former UniSuper chief executive Kevin O'Sullivan has been appointed to the Compensation Scheme of Last Resort (CSLR) transitional board as a non-executive director. O'Sullivan steps into the CSLR board role effective immediately, succeeding June Smith ...

2024 to be a watershed year: FAAA

JAMIE WILLIAMSON  |  THURSDAY, 11 JAN 2024
... members' costs of doing business, including the ASIC levy, and the implementation of the Compensation Scheme of Last Resort (CSLR)," Abood said. "Another key area of focus will be the use of technology in financial planning, where substantial opportunities ...

CSLR estimates $241m to fund backlog of complaints

JAMIE WILLIAMSON  |  TUESDAY, 9 JAN 2024
The board of the Compensation Scheme of Last Resort (CSLR) estimates $241 million will be needed to fund claims lodged with the Australian Financial Complaints Authority (AFCA) between November 2018 and September 2022. The CSLR is set to begin receiving ...

CSLR chief executive named

JAMIE WILLIAMSON  |  FRIDAY, 8 DEC 2023
The Compensation Scheme of Last Resort (CSLR) Transitional Board named the scheme's inaugural chief executive ahead of its planned commencement next April. David Berry has been appointed chief executive of the CSLR, effective December 11. Berry is currently ...

E&P settles class action for $16m

KARREN VERGARA  |  WEDNESDAY, 15 NOV 2023
... before the Australian Financial Complaints Authority (AFCA) and potentially under the Compensation Scheme of Last Resort (CSLR). Former chief Dixon stepped down in mid-2019 amid the controversy surrounding ASX-listed URF. URF enabled Australians to invest ...
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