Tuesday, July 8, 2025

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Pre-CSLR Complaint Estimate Announced

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The CSLR Board has determined the estimate for the initial levy to fund claims from eligible consumers who have been the victims of financial misconduct. In a statement the CSLR board says it has “…provided...

Reservations about CSLR –  FAAA 

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The FAAA continues to have some reservations about the effectiveness of the Compensation Scheme of Last Resort. In noting the  passage of The Treasury Laws Amendment (Financial Services Compensation Scheme of Last Resort) Bill 2023...

Reservations About CSLR and FAR Legislation – FPA

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The FPA continues to hold reservations about the proposed Compensation Scheme of Last Resort and the Financial Accountability Regime Legislation introduced into Parliament, saying the scope of the scheme needs to be broader. FPA CEO...

Finalisation of the CSLR and FAR Legislation Welcomed

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The introduction of the Compensation Scheme of Last Resort and the Financial Accountability Regime Legislation into Parliament has been welcomed by the FSC, which says this reflects the Government’s focus on finalising the remaining...

Industry Groups Respond to Introduction of CSLR Legislation

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Two industry groups have welcomed the introduction of legislation to establish a Compensation Scheme of Last Resort, albeit with some reservations. Stephen Jones, the Assistant Treasurer and Minister for Financial Services, has announced that the...

CSLR – Is the Cure Worse Than the Disease?

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The Government’s decision not to give the Compensation Scheme of Last Resort (CSLR) a ‘swift passage’ through Parliament should give Canberra pause for thought, according to The Advisers Association. TAA CEO, Neil Macdonald says that...

Call for Urgent Rethink of CSLR Funding

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Synchron Director, Don Trapnell is calling for an urgent rethink of funding for the Government's upcoming Compensation Scheme of Last Resort. In a statement Trapnell says the advice sector should pay “not a single dollar”...

Legislation to Establish CSLR Introduced

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Legislation to establish the Compensation Scheme of Last Resort and the Financial Accountability Regime, has been introduced into Parliament. A media release from the Minister for Superannuation, Financial Services and the Digital Economy, Jane Hume,says...

FAAA Meets with Minister Mulino

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The FAAA reports a positive first-meeting with Assistant Treasurer and Minister for Financial Services, Dr Daniel Mulino, following his appointment last month. FAAA CEO Sarah Abood and Chair David Sharpe met with the Minister in...

May 2025

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Tax Deductibility for Financial, Risk Advice Fees Clarified Launch of ‘Game-Changing’ CPD Platform Encompass Protection Product Update Gen Z Trust Recommendations Over Big Brands ASIC Issues Infringement Notices to Zurich