The $20 million levy cap currently included in the Compensation Scheme of Last Resort bill means the financial services minister would be tasked with using their own discretion to fund any excess. According to Senator Andrew Bragg this could have unintended consequences for the industry if clear limitations are not set out to limit the minister’s power.
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We acknowledge the Traditional Custodians of this land upon which Conexus Financial sits, the Cadigal of the Eora Nation. We recognise their continuing connection and unique cultural and spiritual relationships to the land, waters and community. We pay our deepest respects to them and their culture, and to Elders both past and present.
Regulation