CSLR

Financial planning

The Compensation Scheme of Last Resort has released the FY26 revised levy estimate, but the FAAA is concerned costs will be pushed into the following year....

Financial planning

The Financial Services Council has recommended implementing a per capita limit per annum for financial advisers when it comes to the CSLR levy to allow them to expand the...

Financial planning

Spending by the Compensation Scheme of Last Resort in FY25 is expected to be less than the $24 million it had previously estimated, the body has announced....

Financial planning

There are “multiple black swan events” threatening the financial advice industry currently, according to the FAAA’s Phil Anderson, potentially running up the compensation...

Financial planning

ASIC has cancelled the AFSL of global advisory group Brite Advisors after compensation was paid to an individual by the Compensation Scheme of Last Resort....

Financial planning

ASIC has cancelled the AFSL of a Perth financial services firm following payments to its clients by the Compensation Scheme of Last Resort after a failed managed investme...

Financial planning

Despite industry criticisms, Financial Services Minister Stephen Jones believes the Labor government has moved the financial advice reform dial forward “significantly” du...

Financial planning

Shadow financial services minister, Luke Howarth, has stressed the Coalition’s commitment to reforming the CSLR, adding that he ultimately wants to “get rid of it”....

Financial planning

The Australian Financial Complaints Authority has shared how much its member fees will rise in the next financial year. ...

Financial planning

With United Global Capital expected to constitute a substantial portion of CSLR compensation in FY25–26, what has AFCA ruled in its determinations on the company so far?...

Financial planning

Compensation claims regarding United Global Capital may be a “much bigger issue” than Dixon Advisory this year, the FAAA has said, but Dixon will be back on the agenda fo...

Financial planning

The Senate has opted to extend the date of the inquiry into Dixon Advisory and wealth management companies, having originally been scheduled to complete next month....

Financial planning

Contrary to expectations that Dixon Advisory would form the bulk of CSLR compensation, around three-quarters of the sum for FY26 relates to United Global Capital. ...

Financial planning

The levy payable by financial advisers for the Compensation Scheme of Last Resort has almost quadrupled for FY26 as the government launches a formal review....

Financial planning

The FAAA has secured CSLR-related documents under the FOI process, after an extended four-month wait, which show little analysis was done on how the scheme’s cost would a...

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MARKET INSIGHTS

So we are now underwriting criminal scams?...

5 months 1 week ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

5 months 2 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

7 months 2 weeks ago

The RBA has handed down its much-anticipated rate decision, following widespread expectations of a close call....

1 week ago

The FSCP has issued a written direction to an adviser who charged clients “extraordinary fees” for inappropriate and conflicted advice, as well as encouraged them to swit...

3 weeks 1 day ago

ASIC has confirmed the industry funding levy for the 2024–25 financial year, and how much licensees can expect to pay....

1 week 5 days ago