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Showing 1 - 10 of 898 results for "Compensation"

Super funds push back on CSLR: SMC

VINNY VUCAGO  |  TUESDAY, 2 JUN 2026
... Council (SMC) has urged the federal government reject proposals that would expand funding responsibility for the Compensation Scheme of Last Resort (CSLR) to Australians in APRA-regulated superannuation funds, arguing the costs should remain with the ...

CSLR levy must be directed towards bad actors: Burgess

MATTHEW WAI  |  FRIDAY, 29 MAY 2026
In improving the sustainability of the Compensation Scheme of Last Resort (CSLR), SMSF Association (SMSFA) chief executive Peter Burgess says reform is needed for greater accountability around the distribution and production of managed investment schemes ...

Westpac fined $26m for financial hardship neglect

KARREN VERGARA  |  WEDNESDAY, 27 MAY 2026
... and paid more than $1.7 million in remediation to affected customers, including refunds of fees and interest and compensation for non-financial loss. ASIC deputy chair Sarah Court commented Westpac failed the very customers who needed help when they ...

FAAA pushes for 'fundamental' changes to CSLR

KARREN VERGARA  |  TUESDAY, 26 MAY 2026
The Financial Advice Association of Australia (FAAA) is pushing for "fundamental changes" to how the Compensation Scheme of Last Resort (CSLR) is funded, arguing it would be detrimental to financial advisers and small businesses if it continues in its ...

ASIC launches action against Equity Trustees for $65m First Guardian failures

ELIZA BAVIN  |  THURSDAY, 21 MAY 2026
... invest 100% of their funds in First Guardian despite evidence it was or may have been illiquid. ASIC is also seeking compensation for members for losses resulting from the alleged failures by Equity Trustees in relation to First Guardian, as well as ...

CALI calls for government to help fund CSLR

MATTHEW WAI  |  WEDNESDAY, 20 MAY 2026
The Council of Australian Life Insurers (CALI) is calling on the government to help fund the burgeoning Compensation Scheme of Last Resort (CSLR) to stop putting "undue" pressure on Australia's risk advisers. The government has announced the shared ...

ASFA joins Finance Industry Council of Australia

VINNY VUCAGO  |  TUESDAY, 19 MAY 2026
... issues that cut across the system are being discussed," she said. Delahunty noted current priorities included the Compensation Scheme of Last Resort, scam and fraud protections, and regulatory simplification with ASFA aiming to ensure superannuation ...

Mulino targets retail investor protections, high-risk MISs: SIAA

KARREN VERGARA  |  TUESDAY, 19 MAY 2026
... treasurer reiterated he is ultimately looking at pressing reforms in the financial services sector, including the Compensation Scheme of Last Resort (CSLR), Delivering Better Financial Outcomes (DBFO) and financial adviser education pathways, as a broad ...

InterPrac targets First Guardian victim, disputes AFCA ruling

KARREN VERGARA  |  FRIDAY, 15 MAY 2026
... liability which AFCA failed to properly consider. "I am concerned that InterPrac is really just trying to delay paying compensation to investors," he said. "I act on behalf of a large number of people invested in Shield and First Guardian. But my concern ...

Law blocking abusers hiding super assets passes parliament

VINNY VUCAGO  |  FRIDAY, 15 MAY 2026
... survivors of child sexual abuse to access the superannuation assets of convicted offenders who fail to pay court ordered compensation. Assistant treasurer and minister for financial services Daniel Mulino said the Treasury Laws Amendment (The Survivors ...
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