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Showing 1 - 10 of 19 results for "Compensation Scheme of Last Resort"

Sally Loane resigns as FSC chief

JAMIE WILLIAMSON  |  FRIDAY, 22 OCT 2021
... insurance's Trowbridge Review, developing the life Codes, and advocating for a sensible Compensation Scheme of Last Resort," she said. "I have enjoyed working collaboratively with industry organisations here and overseas, regulators, politicians ...

Industry calls for expanded CSLR

ANNABELLE DICKSON  |  WEDNESDAY, 6 OCT 2021
... Professional associations and consumer groups have banded together to lobby for a stronger compensation scheme of last resort ahead of its expected legislation in the coming weeks. The Financial Planning Association of Australia, Association of Financial ...

FSC suggests CSLR improvements

KARREN VERGARA  |  MONDAY, 20 SEP 2021
The Financial Services Council has highlighted numerous holes in the Compensation Scheme of Last Resort in a bid to prevent financial advisers that "have done nothing wrong" from paying for the scheme. The FSC is calling on corporate regulator ASIC ...

Financial adviser levy to drop

JAMIE WILLIAMSON  |  MONDAY, 30 AUG 2021
... way through the Parliament, including the introduction of a Single Disciplinary Body and a Compensation Scheme of Last Resort," Frydenberg and Hume said. Treasury will also review the ASIC Industry Funding Model, commencing in 2022, in consultation with ...

CSLR unfairly locks out some victims: Maurice Blackburn

ELIZABETH MCARTHUR  |  MONDAY, 16 AUG 2021
The Compensation Scheme of Last Resort (CSLR) will lock out victims of financial misconduct or fraud who pursue court proceedings - something that is inherently unfair, according to law firm Maurice Blackburn. Maurice Blackburn principal lawyer Josh ...

Industry associations slam last resort scheme

KARREN VERGARA  |  FRIDAY, 13 AUG 2021
Major professional associations have united to rally against the newly proposed compensation scheme of last resort. The Chartered Accountants Australia and New Zealand, CPA Australia, Financial Planning Association of Australia, Institute of Public ...

CSLR raises concern among advisers

KARREN VERGARA  |  FRIDAY, 23 JUL 2021
... Financial Advisers (AFA) has raised concerns about the cost of the government's proposed Compensation Scheme of Last Resort and the fact that super funds and managed investment schemes are excluded from the proposed regulation. The association points ...

FAR draft legislation released

KANIKA SOOD  |  MONDAY, 19 JUL 2021
... administered by ASIC and APRA. The government has also released the draft legislation establishing the Compensation Scheme of Last Resort, which was also recommended by the Royal Commission. "The establishment of the Compensation Scheme of Last Resort ...

AFCA left toothless on Mayfair complaints

ELIZABETH MCARTHUR  |  MONDAY, 22 MAR 2021
... still an access to justice problem for consumers - one that can probably only be solved by the compensation scheme of last resort coming into effect. "AFCA should provide quicker access to justice but if the relevant licensees have gone under then you ...

Advice reforms to be legislated: Hume

ANNABELLE DICKSON  |  WEDNESDAY, 14 OCT 2020
... previously been placed on hold, the single disciplinary body for financial advisers and the compensation scheme of last resort is set to be legislated by mid-2021. Speaking at the 2020 Association of Financial Advisers Vision Conference this morning ...
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