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Showing 1 - 10 of 909 results for "Compensation"

ASIC bans former NextGen Financial Group directors

KARREN VERGARA  |  FRIDAY, 24 JUL 2026
... to purchase property. The unpaid determinations left affected consumers out of pocket and ultimately resulted in compensation being paid through the Compensation Scheme of Last Resort (CSLR). Brookes' banning took effect on July 15. He is prohibited ...

Corporate hybrid issuance surges: Report

VINNY VUCAGO  |  TUESDAY, 21 JUL 2026
... with (mostly) investment-grade issuers and instead move down the capital structure, earning additional spread as compensation for subordination risk and potentially less liquidity, rather than for a deterioration in issuer credit quality," the report ...

ASIC cancels AFSL of Australian Fiduciaries

RIDDHIMA TALWANI  |  FRIDAY, 17 JUL 2026
... Fiduciaries' inability to pay the amount determined by the Australian Financial Complaints Authority (AFCA). The Compensation Scheme of Last Resort (CSLR) then made a payment of $150,000 for the AFCA determination. "In making the cancellation order ...

FAAA warns adviser levies could exceed $5k as ASIC costs climb

VINNY VUCAGO  |  FRIDAY, 17 JUL 2026
... regulatory levies this financial year, with the Financial Advice Association Australia ( FAAA ) warning rising ASIC and Compensation Scheme of Last Resort (CSLR) cost are placing unsustainable pressure on small advice businesses. The industry body said ...

FAAA names new chair as David Sharpe prepares to step down

VINNY VUCAGO  |  WEDNESDAY, 15 JUL 2026
... and more." Sharpe indicated his remaining four months will focus heavily on navigating challenges surrounding the Compensation Scheme of Last Resort (CSLR) and rebuilding adviser numbers. Abood also thanked Sharpe for his significant contribution to ...

FAAA urges insolvency crackdown to curb soaring CSLR costs

VINNY VUCAGO  |  THURSDAY, 9 JUL 2026
... FAAA said loopholes which shift costs of failed financial advice businesses onto the broader profession through the Compensation Scheme of Last Resort (CSLR) must be closed. In a submission to the Productivity Commission's inquiry into reducing barriers ...

Financial services CSLR Levy hits $198m

MATTHEW WAI  |  THURSDAY, 2 JUL 2026
The Compensation Scheme of Last Resort (CSLR) has increased the estimated FY27 levy to be paid by the financial services sector to $198.1 million, a $60.7 million increase from its initial estimate announced in November 2025. The latest update expects ...

APRA investigating Diversa's executive compensation

RIDDHIMA TALWANI  |  THURSDAY, 25 JUN 2026
APRA has commenced an investigation into if Diversa's executive remuneration decisions were made in accordance with prudential standards and trustees' duties under the Superannuation Industry (Supervision) Act. "Prudent remuneration practices play a ...

Diversa drags Praemium into First Guardian lawsuit

KARREN VERGARA  |  TUESDAY, 23 JUN 2026
... relating to ASIC's proceedings taking action against Diversa for its involvement in First Guardian. "The claims seek compensation from PAL, Powerwrap and OVWS relating to the onboarding and monitoring of the First Guardian investment products by ...

HSBC Bank fined $35m in landmark scam-protection failures

KARREN VERGARA  |  FRIDAY, 19 JUN 2026
... scammed. Upon ASIC's investigation, HSBC established a remediation program that has paid some $21.5 million in compensation to date. More remediation is expected before the end of July. The bank has since recovered and returned $6.5 million to customers. ...
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