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CSLR
Features
Alexandra Cain writes that the outcome of the Federal election could have an effect on funding of the Compensation Scheme of Last Resort....
Financial planning
The post-election Government will need to ensure the Compensation Scheme of Last Resort does not cost more to run than the amounts of compensation involved, according to ...
Features
The examples of failed managed investment schemes have reopened the question around the Government’s proposed model for a Compensation Scheme of Last Resort, writes Oksan...
Financial planning
The Compensation Scheme of Last Resort needs to include managed investment schemes, funeral insurance policies and debt management firms for the Government to fulfil its ...
Financial planning
The organisation believes a review into professional indemnity insurance is crucial before a compensation scheme of last resort can be filed, in order to identify sources...
Financial planning
A survey conducted by the Sterling Action Group shows that 66% of victims of the collapse of the Sterling Group suffered losses greater than the proposed $150,000 compens...
Financial planning
The compensation scheme of last resort should be expanded to include the jurisdiction of the complaints authority, not retrospectively, according to the Financial Plannin...
Policy & Regulation
The compensation scheme of last resort should not be expanded to cover those making “speculative punts”, according to Senator Jane Hume, and would likely make funding mor...
Financial planning
Australian financial services licensees should be required to submit professional indemnity cover as part of existing annual compliance obligations to ensure CSLR viabili...
Financial planning
The Government is making scapegoats out of the advice industry even though it is not responsible for product failures or the vast majority of financial complaints, accord...
Financial planning
CHOICE is calling for an industry-funded compensation scheme of last resort to include investment managers, as cases such as the Sterling Group collapse has caused homele...
Policy & Regulation
It has asked whether Senator Jane Hume’s and Treasurer Josh Frydenberg’s pre-political careers in the banking industry create a conflict of interest....
Financial planning
A significant number of complaints made to the Australian Financial Complaints Authority have been paused due to the delay in the compensation scheme of last resort legis...
Policy & Regulation
Eight consumer groups have united with eight industry bodies in opposition to the compensation scheme of last resort (CSLR) legislation in its current form....
Policy & Regulation
The Government’s proposed compensation scheme of last resort will likely have a future cost of advice failures that is $8 million higher than the Government forecasts....
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Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...
It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...
So we are now underwriting criminal scams?...