The Compensation Scheme of Last Resort (CSLR) now offers relief to Australians who win financial misconduct cases but cannot recover damages due to defunct firms.
The federal court will soon determine if it will approve the $16 million to settle the class action against E&P Financial Group as some victims of Dixon Advisory and Superannuation Services (DASS) are running out of time to make a claim.
Former Financial Planning Association of Australia (FPA) chief executive Jo-Anne Bloch has been appointed by the Albanese government to lead its Compensation Scheme of Last Resort (CLSR).
Minister for financial services, Stephen Jones, has confirmed the start date for consumers to lodge claims with the Compensation Scheme of Last Resort as well as its first chair.