Eight consumer groups have united with eight industry bodies in opposition to the compensation scheme of last resort (CSLR) legislation in its current form....

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....

Declining incomes from the COVID-19 pandemic and ever-rising regulatory costs have crippled small to medium advice businesses, and product issuers should be carrying more...

Consumer bodies have joined the financial adviser bodies and the Federal Opposition in voicing their displeasure with the proposed draft legislation for the compensation ...

Eight industry associations say the compensation scheme of last resort will become a “go to” rather than a last resort and excludes product providers from accountability....

Around three-quarters of financial advisers will have to fund the cost of the Compensation Scheme of Last Resort, and the range of products included in the government’s p...

As they make up only a fraction of complaints to the Australian Financial Complaints Authority, advisers should not be relied on to fund the compensation scheme of last r...

The opposition says capping compensation at $150,000 instead of the $550,000 proposed by the Royal Commission is a mistake....

The corporate regulator says implementation of the compensation scheme of last resort has been delayed due to budgetary reasons....

The Federal Treasury has received yet more warnings that before it embarks on a compensation scheme of last resort it should fix professional indemnity insurance in circu...

The Financial Services Council has canvassed the imposition of capital requirements on advice licensees as part of any compensation scheme of last resort at the same time...

All participants in the financial services industry should bear the burden of funding a compensation scheme of last resort but any levy should be capped at 0.5% of revenu...

The FSC has labelled the compensation scheme of last resort a poor public policy with high risk, and asked for caution and more consultation before proceeding....