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Showing 1 - 10 of 48 results for "Compensation Scheme of Last Resort"

Jo-Anne Bloch to chair CSLR

CHLOE WALKER  |  TUESDAY, 27 FEB 2024
... (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 misconduct access to ...

Too many Aussies eligible for wholesale products: FSC

ANDREW MCKEAN  |  TUESDAY, 13 FEB 2024
... Obligations (DDO), bans of conflicted remuneration, dispute resolution mechanisms, and access to a compensation scheme of last resort under certain circumstances. "The FSC is urging the government to use a scalpel, not a sledgehammer, when adjusting ...

Former UniSuper chief appointed to CSLR board

ANDREW MCKEAN  |  TUESDAY, 16 JAN 2024
Former UniSuper chief executive Kevin O'Sullivan has been appointed to the Compensation Scheme of Last Resort (CSLR) transitional board as a non-executive director. O'Sullivan steps into the CSLR board role effective immediately, succeeding June Smith ...

2024 to be a watershed year: FAAA

JAMIE WILLIAMSON  |  THURSDAY, 11 JAN 2024
... members' costs of doing business, including the ASIC levy, and the implementation of the Compensation Scheme of Last Resort (CSLR)," Abood said. "Another key area of focus will be the use of technology in financial planning, where substantial opportunities ...

CSLR estimates $241m to fund backlog of complaints

JAMIE WILLIAMSON  |  TUESDAY, 9 JAN 2024
The board of the Compensation Scheme of Last Resort (CSLR) estimates $241 million will be needed to fund claims lodged with the Australian Financial Complaints Authority (AFCA) between November 2018 and September 2022. The CSLR is set to begin receiving ...

CSLR chief executive named

JAMIE WILLIAMSON  |  FRIDAY, 8 DEC 2023
The Compensation Scheme of Last Resort (CSLR) Transitional Board named the scheme's inaugural chief executive ahead of its planned commencement next April. David Berry has been appointed chief executive of the CSLR, effective December 11. Berry is currently ...

E&P settles class action for $16m

KARREN VERGARA  |  WEDNESDAY, 15 NOV 2023
... against it before the Australian Financial Complaints Authority (AFCA) and potentially under the Compensation Scheme of Last Resort (CSLR). Former chief Dixon stepped down in mid-2019 amid the controversy surrounding ASX-listed URF. URF enabled Australians ...

AFCA consults on advice, MIS compensation

KARREN VERGARA  |  TUESDAY, 7 NOV 2023
... until December 1. AFCA will publish its final approach in late December or early 2024. The Compensation Scheme of Last Resort (CSLR) laws, which passed in June, entitles investors who have not received their determination amount, compensation of up to ...

Treasury names new ASIC commissioners

KARREN VERGARA  |  FRIDAY, 25 AUG 2023
... Review, which recommended the establishment of the Australian Financial Complaints Authority and Compensation Scheme of Last Resort. Constant has been with CBA for nearly three years and previously was in a similar role at NAB. Prior to those, she held ...

Westpac reports $1.8bn net profit, rise in stressed assets

ANDREW MCKEAN  |  MONDAY, 21 AUG 2023
... one-off expenses tied to the cost reset initiative and charges related the Commonwealth's Compensation Scheme of Last Resort (CSLR). According to ASIC, the CSLR will provide compensation of up to $150,000 to consumers who have an unpaid determination ...
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