Background

In September 2020, the Australian Securities and Investments Commission (ASIC) commenced proceedings in the Federal Court of Australia against Dixon Advisory and Superannuation Services Ltd.

ASIC alleged that DASS representatives failed to act in the best interests of their clients and did not provide advice that was appropriate to their clients’ circumstances.

In January 2022, it was announced that DASS had been placed into administration. In April 2022, DASS had its Australian Financial Services License (AFSL) suspended.

In August 2022 ASIC recommended that former DASS clients should consider lodging a complaint with the Australian Financial Complaints Authority (AFCA).

Those impacted by the collapse of Dixon Advisory and Superannuation Services (DASS) may be eligible for compensation with the CSLR.