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Financial planning
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...
Financial planning
AFCA has doubled the team handling Dixon Advisory complaints, with the Compensation Scheme of Last Resort just six weeks away from implementation....
Financial planning
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...
People & Products
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....
Financial planning
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....
People & Products
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...
Financial planning
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...
Financial planning
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...
Financial planning
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...
Financial planning
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...
Funds management
As E&P appoints a new chief executive and the government brings in the CSLR that should help affected consumers, Money Management has collated a timeline of events at the...
Financial planning
The Australian Financial Complaints Authority will begin reviewing the status of paused complaints, including around 1,700 related to Dixon Advisory, now that Parliament ...
Policy & Regulation
The Compensation Scheme of Last Resort legislation has passed in Parliament today, having first been raised back in 2016....
Financial planning
Stephen Jones has called on the Government to pass the Compensation Scheme of Last Resort bill this month, stating consumers have “waited long enough” for redress. ...
Financial planning
The Australian Financial Complaints Authority has addressed the Independent Review’s recommendations and pushed for greater internal dispute resolution....
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MARKET INSIGHTS
Podcast
So we are now underwriting criminal scams?...
Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...
Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...