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COMPENSATION SCHEME OF LAST RESORT

Financial planning

All participants in the financial services industry should bear the burden of funding a compensation scheme of last resort but any levy should be capped at 0.5% of revenu...

Policy & Regulation

The Australian Financial Complaints Authority wants any new compensation scheme of last resort to cover the whole industry, including Managed Investment Schemes, and to b...

Financial planning

It would be reasonable to have all Australian Financial Complaints Authority members pay for and be covered by the new scheme, according to a law firm....

Financial planning

The Government has taken the first step towards imposing a compensation scheme of last resort on the financial advice sector, raising key questions about the future relev...

Financial planning

The Federal Government has committed to a timetable to ending grandfathering and to entertaining life/risk commissions being further reduced....

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