{"id":82434,"date":"2026-05-20T04:00:05","date_gmt":"2026-05-19T18:00:05","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=82434"},"modified":"2026-05-26T14:57:02","modified_gmt":"2026-05-26T04:57:02","slug":"cali-urges-government-to-share-cslr-burden","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2026\/05\/20\/cali-urges-government-to-share-cslr-burden\/","title":{"rendered":"CALI Urges Government to Share CSLR Burden"},"content":{"rendered":"

CALI’s CEO Christine Cupitt<\/strong> is set to meet with Financial Services Minister Daniel Mulino <\/strong>at a round table discussion later this week at which she will argue for fairer treatment of financial advisers – particularly risk advisers – when it comes to shouldering the cost burden of the Compensation Scheme of Last Resort.<\/p>\n

\"Christine
CALI CEO Christine Cupitt …calling on the Government to stop placing undue pressure on Australia’s risk advisers<\/figcaption><\/figure>\n

At the round table, which will also be attended by consumer groups and other industry stakeholders, Cupitt will be calling on the Federal Government to help fund the CSLR shortfall and to reduce the financial pressure on advisers.<\/p>\n

Advisers are currently facing a potential $4,000 special CSLR levy due in part to failures linked to the Shield and First Guardian Master Funds and consumer claims for their losses.<\/p>\n

Treasury confirmed last year that a $47.3m special levy will apply in the 2025-26 financial year to meet higher-than-expected CSLR claims, with advisers set to pay more than 20% of it.<\/p>\n

Cupitt said life insurers support spreading the CSLR levy across the broader financial services sector, and the Government should also share part of the cost.<\/p>\n

Risk advisers aren\u2019t a threat to Australians\u2019 savings<\/p><\/blockquote>\n

\u201cRisk advisers aren\u2019t a threat to Australians\u2019 savings, instead they help them access peace of mind and financial security when they need it most,\u201d said Cupitt, adding:<\/p>\n

\u201cThe scheme is very important for victims of financial misconduct, and the Government needs to take a fairer approach and make sensible changes to the design of the scheme to ensure it remains sustainable in the long run.\u201d<\/p>\n

Cupitt said the Government\u2019s promised Delivering Better Financial Outcomes reforms would play a significant role in responding to financial misconduct.<\/p>\n

\u201cWe have seen firsthand what happens when people don\u2019t have access to professional financial advice,\u201d she said. \u201cThey are left with no one to talk to and, in the worst of cases, with no financial safety net to lean on when they need it most.\u201d<\/p>\n

See our report: CSLR Levy Fuels Adviser Exit Fears<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

CALI’s CEO Christine Cupitt is set to meet with Financial Services Minister Daniel Mulino at a round table discussion later this week at which she will argue for fairer treatment of financial advisers – particularly risk advisers – when it comes to shouldering the cost burden of the Compensation Scheme of Last Resort. At the […]<\/p>\n","protected":false},"author":23,"featured_media":82437,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[282,8,8282],"tags":[],"class_list":{"0":"post-82434","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"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/82434","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=82434"}],"version-history":[{"count":5,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/82434\/revisions"}],"predecessor-version":[{"id":82451,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/82434\/revisions\/82451"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/82437"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=82434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=82434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=82434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}