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Showing 1 - 10 of 753 results for "Compensation"

Court approves $16m DASS settlement

KARREN VERGARA  |  FRIDAY, 19 APR 2024
... victims taking part in the 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 ...

State supports move to close super loophole exploited by paedophiles

ANDREW MCKEAN  |  WEDNESDAY, 17 APR 2024
... counterparts to adopt a policy to change superannuation laws so that survivors of child sexual abuse can receive appropriate compensation. "The horrendous scourge of child sexual abuse impacts the quality of life and the health of survivors in both the ...

FCA issues notices to Link Fund Solutions, Woodford

KARREN VERGARA  |  FRIDAY, 12 APR 2024
... failings which led to its investigation and subsequent agreement from Link to settle the enforcement case and provide compensation to those affected. In a separate action, the FCA issued warning notices to fund manager Neil Woodford and WIM proposing ...

Court delays DASS class action settlement approval

KARREN VERGARA  |  FRIDAY, 5 APR 2024
... comprises the glut of the Australian Financial Complaints Authority's complaints as well as the newly launched Compensation Scheme of Last Resort. Separately, E&P chief financial officer and joint company secretary Stephen Hill will leave the company ...

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 ...

AFCA flags legal uncertainty on SMSF wholesale test

KARREN VERGARA  |  THURSDAY, 28 MAR 2024
... was one such matter." AFCA ultimately found that the complainant was provided general advice and not entitled to compensation. In the determination, the ombudsman "considered whether the general advice had otherwise been provided appropriately with reasonable ...

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 ...

Mayfair 101 regains control of assets, liquidators abandon claims

JAMIE WILLIAMSON  |  MONDAY, 18 MAR 2024
... and even the residents of Mission Beach who agreed to sell us their homes. Mayfair 101 and all our lenders deserve compensation for what has occurred."

DASS settlement pending court approval, victims urged to claim

KARREN VERGARA  |  WEDNESDAY, 28 FEB 2024
... 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. It is unlikely Dixon Advisory will ...

Jo-Anne Bloch to chair CSLR

CHLOE WALKER  |  TUESDAY, 27 FEB 2024
... Association of Australia (FPA) chief executive Jo-Anne Bloch has been appointed by the Albanese government to lead its Compensation Scheme of Last Resort (CLSR). The scheme, which officially kicks off on April 2, aims to give victims of financial services ...
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