News and media

The CSLR today announces that due to slower claim volumes in the lead up to the end of financial year, the full $24.1 million levied for the FY25 period will not be completely utilised.

The Compensation Scheme of Last Resort (CSLR) has today released the FY26 initial levy estimate.

With the assistance of independent external actuaries, the initial levy estimate for the upcoming financial year has been calculated and shared with industry.

The Compensation Scheme of Last Resort (CSLR) today met with key financial sector leaders at their inaugural Industry Forum in Sydney.

In keeping with its commitment to transparency, the CSLR provided an overview of its progress since the scheme launched in April 2024, and the roadmap for the next six months.

The Compensation Scheme of Last Resort (CSLR) 2nd levy period notice will be issued by the Australian Securities and Investments Commission (ASIC) in early August 2024.

The Compensation Scheme of Last Resort (CSLR), created on the advice of the Ramsey Review as well as the Banking Royal Commission, has made its first payments, totalling over $360,000 to four claimants who suffered financial services misconduct.

The Compensation Scheme of Last Resort (CSLR) is pleased to have signed a memorandum of understanding (MOU) with the Australian Financial Complaints Authority (AFCA), setting out how we independently work together to support a fair and efficient financial services system.