CSLR

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...

Financial planning

There are two areas where Minister for Financial Services, Stephen Jones, has the power to change CSLR without the need for law changes....

Financial planning

The FAAA and AFCA are in disagreement regarding how much of an industry collapse, such as Dixon Advisory, relates to product failure and how much relates to advice. ...

Financial planning

The FAAA is actively exploring and has sought legal advice on how the problem of phoenixing AFSLs can be avoided to prevent the burden falling on the CSLR and the advice ...

Financial planning

An advice AFSL has seen its licence cancelled by ASIC this month for failing to pay an AFCA determination, which was then covered by the CSLR....

Financial planning

The Compensation Scheme of Last Resort says it has received over 200 claims for compensation relating to personal financial advice since its inception and detailed the sp...

Financial planning

In an environment of M&A, CA ANZ has stated any company looking to acquire an advice firm should be prepared to bear responsibility for any compensation to aggrieved clie...

Financial planning

Financial advisers are likely to see their next levy for the Compensation Scheme of Last Resort exceed the subsector cap of $20 million....

Financial planning

The fallout from Dixon Advisory and effect on the professional indemnity insurance market could have been far worse, according to Numerisk’s Richard Silberman, if the pro...

Financial planning

A victim of NextGen Financial Group has received a payment from the CSLR after the company's liquidation but the total falls short of their $270k unpaid AFCA determinatio...

Financial planning

The FAAA’s Phil Anderson has said the delisting of E&P Financial Group won’t stop the company coming under scrutiny in the public inquiry....

Financial planning

As the government announces a public inquiry into the collapse of Dixon Advisory, risk adviser Richard Silberman has detailed the three areas that typically lead to an AF...

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MARKET INSIGHTS

So we are now underwriting criminal scams?...

3 days 20 hours ago

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

1 week ago

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

2 months 1 week ago

Original bidder Bain Capital, which saw its first offer rejected in December, has returned with a revised bid for Insignia Financial....

3 weeks 3 days ago

The corporate regulator has named its new chief executive, who is set to replace retiring interim CEO Greg Yanco in March....

3 weeks ago

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...

3 weeks 1 day ago