10 October 2016 09:23
fund manager of the year, Professional Planner, Professional Planner|Zenith Fund Awards, Zenith Investment Partners
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‘But-for’ compensation will live on, just not at the CSLR
The Australian Financial Complaints Authority will continue to issue controversial “but-for” determinations after 30 June next year, even though investors who lodge complaints with it after that date will not be eligible for “but for” compensation from the Compensation Scheme of Last Resort. This is one of the reforms aimed at putting the CSLR on a more sustainable financial footing, and at easing the funding burden on the advice sector.
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