{"id":81938,"date":"2026-04-08T14:52:41","date_gmt":"2026-04-08T04:52:41","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=81938"},"modified":"2026-04-13T11:44:06","modified_gmt":"2026-04-13T01:44:06","slug":"sustainability-concerns-drive-cslr-consultation","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2026\/04\/08\/sustainability-concerns-drive-cslr-consultation\/","title":{"rendered":"Sustainability Concerns Drive CSLR Consultation"},"content":{"rendered":"<p>The Government has released three consultation papers aimed at strengthening consumer protection and trust in the superannuation and financial services sectors.<\/p>\n<p>Assistant Treasurer <strong>Daniel Mulino<\/strong> says the collapses of the Shield and First Guardian Master Funds have highlighted the need for a \u201ccomprehensive reform package\u201d.<\/p>\n<p>The three consultations will cover:<\/p>\n<ul>\n<li>Lead generation activity<\/li>\n<li>Enhancing member protections in the superannuation system<\/li>\n<li>Reforming the CSLR\n<p><figure id=\"attachment_77241\" aria-describedby=\"caption-attachment-77241\" style=\"width: 150px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-77241\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2025\/05\/fraser-daniel-mulino.png\" alt=\"Dr Daniel Mulino has accepted the role of Assistant Treasurer and Financial Services Minister.\" width=\"150\" height=\"180\" \/><figcaption id=\"caption-attachment-77241\" class=\"wp-caption-text\">Assistant Treasurer and Financial Services Minister, Dr Daniel Mulino.<\/figcaption><\/figure><\/li>\n<\/ul>\n<p>Mulino says Government wants to protect consumers as they &#8220;&#8230;navigate the superannuation system, tackling high-pressure sales tactics such as lead generation, and ensuring the sustainability of the Compensation Scheme of Last Resort&#8221;.<\/p>\n<p>The consultation on the CSLR has been welcomed by the FAAA, with its CEO <strong>Sarah Abood<\/strong> saying preventing future collapses and improving the sustainability and fairness of the scheme are \u201ccritical issues for financial advisers, victims of misconduct, and consumers more broadly\u201d.<\/p>\n<p>\u201cA declining number of financial advisers are paying the largest share of the CSLR levy, despite having nothing to do with the misconduct that gave rise to the need for consumer compensation,\u201d she says.<\/p>\n<figure id=\"attachment_75332\" aria-describedby=\"caption-attachment-75332\" style=\"width: 150px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-75332\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2025\/01\/Sarah-Abood.jpeg\" alt=\"Sarah Abood.\" width=\"150\" height=\"180\" \/><figcaption id=\"caption-attachment-75332\" class=\"wp-caption-text\">Sarah Abood.<\/figcaption><\/figure>\n<p>Mulino says the paper on the CSLR focuses on options to:<\/p>\n<ul>\n<li>Improve the predictability and structure of funding arrangements<\/li>\n<li>Better align the scheme as a genuine mechanism of last resort<\/li>\n<li>Enhance recoveries<\/li>\n<\/ul>\n<p>The consultations will run for six weeks, closing 15 May 2026. Further information is available on the <a href=\"https:\/\/treasury.gov.au\/consultation\" target=\"_blank\" rel=\"noopener\">Treasury website<\/a>.<\/p>\n<p>Mulino will also convene a second CSLR and consumer protection roundtable in the coming weeks to hear directly from stakeholders on the reform options.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Government has released three consultation papers aimed at strengthening consumer protection and trust in the superannuation and financial services sectors. Assistant Treasurer Daniel Mulino says the collapses of the Shield and First Guardian Master Funds have highlighted the need for a \u201ccomprehensive reform package\u201d. The three consultations will cover: Lead generation activity Enhancing member [&hellip;]<\/p>\n","protected":false},"author":23,"featured_media":81942,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[282,8,8282,5622,5121],"tags":[],"class_list":{"0":"post-81938","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-associations","8":"category-compliance-regulation","9":"category-government","10":"category-superannuation","11":"category-sustainability"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/81938","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=81938"}],"version-history":[{"count":5,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/81938\/revisions"}],"predecessor-version":[{"id":81944,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/81938\/revisions\/81944"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/81942"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=81938"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=81938"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=81938"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}