In the latest episode of The ifa Show, Financial Advice Association Australia general manager of policy, advocacy and standards Phil Anderson joins host Keith Ford to take a deep dive into the latest Compensation Scheme of Last Resort consultation, this time focusing on how the special levy should be decided.
With $47.3 million left to be covered for FY2025–26, Minister for Financial Services Daniel Mulino has a decision on his hands: either do nothing, delay payments, put it all on advisers, or spread the cost. Anderson explains why the FAAA believes widening the sectors that will cover the excess cost is the most equitable and sustainable way forward.
Tune in to hear:
- How spreading the cost across a broader range of sectors can work in practice.
- The impact of recent large-scale fund failures on the CSLR and how the government might respond.
- Whether the Treasury review will result in substantive legislative change or just temporary solutions.
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