AFCA has appointed a senior ombudsman specifically to specialise in Compensation Scheme of Last Resort complaints, with the scheme set to come into force on 2 April. ...
AFCA has already received almost 70,000 complaints since the start of the financial year, and chief executive David Locke has warned this sustained high growth shows the ...
The second CSLR levy period payable by financial advisers could increase to as much as $39.4 million if AFCA processes all DASS complaints by March 2025....
Reacting to the Compensation Scheme of Last Resort levy, the FAAA said another levy in addition to the existing ASIC levy will drive advice firms out of business. ...
The Compensation Scheme of Last Resort has determined the estimates for the first and second levy periods, including the proportion payable by financial advisers, ahead o...
Minister for Financial Services, Stephen Jones, has confirmed the start date for consumers to lodge claims with the Compensation Scheme of Last Resort as well as its firs...
AFCA has doubled the team handling Dixon Advisory complaints, with the Compensation Scheme of Last Resort just six weeks away from implementation....
In its pre-budget submission, the FAAA has expressed its concern over the “extremely disheartening” costs of the Compensation Scheme of Last Resort potentially being pass...
The transitional board of the Compensation Scheme of Last Resort has appointed former UniSuper chief executive Kevin O’Sullivan, as a former AFCA director steps down....
The estimated sum for the initial Compensation Scheme of Last Resort levy has been calculated, with the regime expected to start receiving claims in April....
The Compensation Scheme of Last Resort’s transitional board has appointed its first chief executive alongside a non-executive director in the lead up to its scheduled com...
The FAAA is concerned about consumers without the necessary knowledge to invest in managed investment schemes being classified as wholesale investors, as the number of pe...
Advisers “live in fear of the next black swan event”, according to FAAA general manager Phil Anderson, as they anticipate the start of the Compensation Scheme of Last Res...
E&P Financial Group has settled a class action related to Dixon Advisory for $16 million as Senator Andrew Bragg questions why the taxpayer should foot the bill for consu...
Investment and advice complaints have seen a 51 per cent increase in the last financial year, largely attributed to complaints against Dixon Advisory and Best Leader Mark...
trustees are already requesting such confirmations when advisory fees (even via fixed term agreements) are deducted from...
CSLR should be broken down into 2 sub sectors, one for product manufacturers and one for financial advisers. Product ma...
We must stand up and show our opposition to both the ASIC Levy and CSLR as they both contribute to the high cost of advi...