Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 1 - 10 of 927 results for "Compensation"

Mulino opens CSLR special levy consultation

ELIZA BAVIN  |  TUESDAY, 22 SEP 2026
Treasury has commenced a targeted consultation on the distributions of the 2026-27 special levy for the Compensation Scheme of Last Resort (CSLR). This comes after the CSLR operator announced in July that the estimated claim costs for 2026-27 were $190.3 ...

Netwealth faces potential class action over First Guardian failure

RIDDHIMA TALWANI  |  MONDAY, 21 SEP 2026
... claims relate to matters previously addressed through Netwealth's court-enforceable undertaking with ASIC and the compensation program completed in January 2026," Netwealth said. Last week, Gordan Legal commenced a class action against Macquarie Investment ...

Stay up to date with regulatory compliance at the FAAA Congress

MATTHEW WAI  |  THURSDAY, 17 SEP 2026
... shedding some light on the ongoing developments from the Australian Financial Complaints Authority (AFCA) and the Compensation Scheme as Last Resort (CSLR). This year's congress, themed 'EXPLORE,' reflects the core purpose to providing financial ...

Regulatory reform omnibus bill passage trims CSLR levy disallowance period, payouts

KARREN VERGARA  |  TUESDAY, 15 SEP 2026
The passage of Regulatory Reform Omnibus Bill 2026 overnight will amend how levies are collected under the Compensation Scheme of Last Resort (CSLR) and pay compensation to eligible victims more quickly. The package of reforms was passed by both houses ...

Shorter CSLR payout timeframe awaits major bill passage

KARREN VERGARA  |  WEDNESDAY, 9 SEP 2026
The looming passage of a major bill will amend how levies are collected under the Compensation Scheme of Last Resort (CSLR) and, in turn, speed up compensation payments to eligible victims. The reform is part of the Regulatory Reform Omnibus Bill 2026 ...

FEATURE | Group insurance | Dusk to dawn

KARREN VERGARA  |  FRIDAY, 28 AUG 2026
... Australian Life Insurers (CALI) mapped out 11 types of income support that include income protection, TPD, workers' compensation and superannuation. It estimates 8.5 million people last year received some type of income support that amounted to $78.9 ...

Netwealth profit hit by First Guardian costs

VINNY VUCAGO  |  WEDNESDAY, 26 AUG 2026
... after-tax costs related to the First Guardian Master Fund collapse. The platform provider incurred a $71 million post-tax compensation charge for affected members, alongside $3 million in legal and professional fees related to First Guardian. The cost ...

Phil Anderson to retire at the upcoming FAAA Congress

MATTHEW WAI  |  WEDNESDAY, 26 AUG 2026
... of the last 20 years dedicated to the financial advice profession, including in the advocacy against flaws in the Compensation Scheme as a Last Resort (CSLR) and advancing the Delivering Better Financial Outcomes (DBFO) reforms in recent years. A recruitment ...

Trustees, platforms, cyber risk under APRA spotlight

KARREN VERGARA  |  FRIDAY, 21 AUG 2026
... given greater oversight to ensure trustees have the financial capacity to meet their obligations under the proposed compensation scheme. APRA did not provide any details on any changes to the superannuation Performance Test and Comprehensive Product ...

Federal Court confirms Netwealth's First Guardian failures

MATTHEW WAI  |  FRIDAY, 21 AUG 2026
... not seek a pecuniary penalty in the matter, owing to the circumstances of the case, including the timely payment of compensation to affected members, the regulator said. Based on documents supplied by the parties, Justice McEvoy declared that Netwealth ...
PREVIOUS
NEXT