‘But for’ determinations a necessity for Shield, First Guardian clients: AFCA
AFCA has argued the controversial “but for” provision will be a necessity for Shield and First Guardian investors who missed out on investment gains after being rolled out of well-performing funds because of poor advice. And those expecting PI insurance to be able to cover more remediation will be further disappointed with the CSLR saying it is a challenge for liquidators and administrators to make claims.
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