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Showing 1 - 10 of 138 results for "Compensation Scheme of Last Resort"

FAAA urges insolvency crackdown to curb soaring CSLR costs

VINNY VUCAGO  |  THURSDAY, 9 JUL 2026
... 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 to business dynamism ...

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 ...

Accounting sector rejects shifting CSLR costs to SMSFs

VINNY VUCAGO  |  THURSDAY, 11 JUN 2026
... Australia's major accounting bodies have urged Treasury to reconsider proposals that would shift Compensation Scheme of Last Resort (CSLR) funding costs onto self-managed superannuation funds (SMSFs), warning the move would unfairly penalise investors ...

Super funds push back on CSLR: SMC

VINNY VUCAGO  |  TUESDAY, 2 JUN 2026
... 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 sectors responsible ...

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 ...

FAAA pushes for 'fundamental' changes to CSLR

KARREN VERGARA  |  TUESDAY, 26 MAY 2026
... 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 current ...

CALI calls for government to help fund CSLR

MATTHEW WAI  |  WEDNESDAY, 20 MAY 2026
... 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 responsibility ...

ASFA joins Finance Industry Council of Australia

VINNY VUCAGO  |  TUESDAY, 19 MAY 2026
... 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 perspectives are reflected ...

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

KARREN VERGARA  |  TUESDAY, 19 MAY 2026
... 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 piece of work. "What ...

Advice industry can't afford CSLR to be an 'unsustainable mess': FAAA

MATTHEW WAI  |  FRIDAY, 8 MAY 2026
A recent survey conducted by the Financial Advice Association Australia (FAAA) shows the Compensation Scheme of Last Resort (CSLR) levy will increase the cost of financial advice and may see a significant departure of advisers from the industry. The ...
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