1,201

claims paid

$149.4m

compensation paid

lifetime figures

Client case studies

Richard

Financial advice

Having worked with several advisers over the years, including one whose poor advice led to significant financial losses, Richard was acutely aware of the importance of choosing carefully. Based on the firm’s strong reputation, Richard selected a large, well‑known financial services provider, believing this would ensure stability and steady growth for his retirement nest egg.

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R case study main (1)

Travis and Susan

Financial advice

Despite extensive planning and careful due diligence, Travis and Susan started to question whether the financial advice they had received was in their best interests.

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S case study banner

Hugo

Financial advice

After several years of having a financial firm manage his SMSF, Hugo decided to take back control and look after it himself. As he began going through the details of his account, he discovered that two of the funds in which he held significant investments had been frozen in 2020 and were now essentially worthless.

Read more
hamish case study main

Carly

Financial advice

Carly's SMSF was managed by the same firm since 2012 and trusted their advice.  In 2023, an authorised representative of the firm recommended she invest $50,000 in a high-yield fixed interest account. Carly soon learned the firm had no record of her investment.

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carly case study main

Donna and Theo

Financial advice

Donna and her husband, Theo, were in their mid-forties when they decided to meet with an adviser they had known for several years. “I’d worked with Simon as a contractor long enough to have a fair idea of his business practices, and everything seemed above board and legitimate. I had no reason not to trust him,” explained Donna.

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Liam

Financial advice

Liam engaged a financial firm in 2016 to obtain brokerage advice and other ad-hoc financial services.  Around this time, the firm presented Liam with an opportunity to invest almost $100,000 in a capital raising exercise, advising that the company would list on the Australian Stock Exchange (ASX) within 24 months. 

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Andrea and Doug

Financial advice

Andrea and Doug decided that it was time to start thinking seriously about their retirement. They met with an adviser who informed them that by moving their superannuation out of their industry fund and into a self-managed superannuation fund (SMSF) they would retire with a higher balance.

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Gabrielle and Jonathan

Financial advice

Gabrielle and Jonathan felt something wasn't right with the management of their superannuation. Unfortunately, their intuition was correct. As a result of poor financial advice, the couple lost a significant portion of their retirement savings.

Read more
gabrielle jonathan case study web
View all

Client case studies

Richard

Financial advice

Having worked with several advisers over the years, including one whose poor advice led to significant financial losses, Richard was acutely aware of the importance of choosing carefully. Based on the firm’s strong reputation, Richard selected a large, well‑known financial services provider, believing this would ensure stability and steady growth for his retirement nest egg.

Read more
R case study main (1)

Travis and Susan

Financial advice

Despite extensive planning and careful due diligence, Travis and Susan started to question whether the financial advice they had received was in their best interests.

Read more
S case study banner

Hugo

Financial advice

After several years of having a financial firm manage his SMSF, Hugo decided to take back control and look after it himself. As he began going through the details of his account, he discovered that two of the funds in which he held significant investments had been frozen in 2020 and were now essentially worthless.

Read more
hamish case study main

Carly

Financial advice

Carly's SMSF was managed by the same firm since 2012 and trusted their advice.  In 2023, an authorised representative of the firm recommended she invest $50,000 in a high-yield fixed interest account. Carly soon learned the firm had no record of her investment.

Read more
carly case study main

Donna and Theo

Financial advice

Donna and her husband, Theo, were in their mid-forties when they decided to meet with an adviser they had known for several years. “I’d worked with Simon as a contractor long enough to have a fair idea of his business practices, and everything seemed above board and legitimate. I had no reason not to trust him,” explained Donna.

Read more

Liam

Financial advice

Liam engaged a financial firm in 2016 to obtain brokerage advice and other ad-hoc financial services.  Around this time, the firm presented Liam with an opportunity to invest almost $100,000 in a capital raising exercise, advising that the company would list on the Australian Stock Exchange (ASX) within 24 months. 

Read more

Andrea and Doug

Financial advice

Andrea and Doug decided that it was time to start thinking seriously about their retirement. They met with an adviser who informed them that by moving their superannuation out of their industry fund and into a self-managed superannuation fund (SMSF) they would retire with a higher balance.

Read more

Gabrielle and Jonathan

Financial advice

Gabrielle and Jonathan felt something wasn't right with the management of their superannuation. Unfortunately, their intuition was correct. As a result of poor financial advice, the couple lost a significant portion of their retirement savings.

Read more
gabrielle jonathan case study web
View all

Latest news and media

Compensation Scheme of Last Resort releases FY2027 initial levy estimate

With assistance from independent actuaries, and in alignment with the relevant legislation, the Initial Estimate for FY27 has been calculated at $137.5m.

Read more
17
Nov
MR sep2025
Compensation Scheme of Last Resort publishes submission to Treasury’s post-implementation review alongside FY2025 Impact Report

The Compensation Scheme of Last Resort (CSLR) has today released its submission to Treasury's post-implementation review into the Scheme. Additionally, the Scheme has published its FY2025 Impact Report, along with a comprehensive list of all firms against which it has paid compensation since it began operations.

Read more
29
Sep
revisedlevy040725
Compensation Scheme of Last Resort releases FY26 revised levy estimate

With the assistance of CSLR’s principal actuary, the revised estimate for the 2026 financial year has been calculated at $75.698m, down from the initial estimate published in January of $77.975m.

Read more
04
Jul

Latest news and media

Compensation Scheme of Last Resort releases FY2027 initial levy estimate

With assistance from independent actuaries, and in alignment with the relevant legislation, the Initial Estimate for FY27 has been calculated at $137.5m.

Read more
17
Nov
MR sep2025
Compensation Scheme of Last Resort publishes submission to Treasury’s post-implementation review alongside FY2025 Impact Report

The Compensation Scheme of Last Resort (CSLR) has today released its submission to Treasury's post-implementation review into the Scheme. Additionally, the Scheme has published its FY2025 Impact Report, along with a comprehensive list of all firms against which it has paid compensation since it began operations.

Read more
29
Sep
revisedlevy040725
Compensation Scheme of Last Resort releases FY26 revised levy estimate

With the assistance of CSLR’s principal actuary, the revised estimate for the 2026 financial year has been calculated at $75.698m, down from the initial estimate published in January of $77.975m.

Read more
04
Jul
Slower claim volumes will result in underspend of FY25 levy funds

As we approach the end of the financial year and gain greater clarity on the volume and status of lodged claims likely to be paid in FY25, the full $24.1 million levied will not be fully utilised.

Read more
27
May