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How CSLR Can be Improved – FAAA
While the Dixon Advisory debacle is likely one of the underlying reasons for a government review of the Compensation Scheme of Last Resort (CSLR), the FAAA’s feedback to Treasury on the scheme is forward...
Latest CSLR Levy Estimate Put at $193m
The financial advice profession could be on the hook to pay Compensation Scheme of Last Resort (CSLR) fees totalling $123m in the 2026/27 year according to the FAAA. This follows news of a potential...
Senate CSLR Inquiry Delayed
A scheduled Senate inquiry into the Compensation Scheme of Last Resort (CSLR), set down to start in March, has been postponed until well after the coming federal election (to be held on or before...
$70m CSLR Levy – ‘An Existential Threat for Financial Advice’
News the estimates for the CSLR levy for the 2025/26 year will total $70m comes as a shock, says FAAA CEO Sarah Abood.
“If the government’s intention is to bankrupt financial advisers in every town...
CSLR Scheme to be Reviewed
The Compensation Scheme of Last Resort (CSLR) is to be reviewed. The decision was announced by Treasury following news the sector will have to pay $78m to compensate consumers in 2025–26, largely as a result...
Pressure on Government to Fix CSLR Before Election
The FAAA's Phil Anderson is continuing his criticism of the Compensation Scheme of Last Resort (CSLR) as the sector awaits the scheme’s cost estimate and levy for the 2025/26 year.
In the FAAA's submission to the...
Impact Analysis of CSLR ‘Likely Not Undertaken’
The impact of the Compensation Scheme of Last Resort (CSLR) on financial advisers may not have been carried out by Treasury. The claim is made by the FAAA which has been pushing for a...
FAAA Senate Submission Highlights Flaws in Design of CSLR
The FAAA’s submission to the Senate Economics References Committee inquiry into wealth management companies and the impact on the CSLR, highlights the flaws in the Dixon Advisory business model and the significant contribution of...
CSLR Levy Likely to Exceed $20M Cap
The upcoming CSLR levy for financial year 2026 is anticipated to exceed the $20 million sub-sector cap for personal financial advice, says the Compensation Scheme of Last Resort.
At CSLR's first financial industry forum, where...
CSLR Concerns Raised with Treasury
The FAAA has had its first scheduled meeting with Treasury to continue work on fixing the unintended consequences of the Compensation Scheme of Last Resort.
Sarah Abood, CEO of the FAAA, says in a statement...