Big super funds and SMSFs could pay compensation for victims of financial misconduct
Melinda Kee thought her financial ordeal was almost over. But more than 12 months after she lodged a…
Financial misconduct compensation scheme faces $170 million cost blowout
A government scheme that provides compensation for victims of financial misconduct, including Australians who lost their retirement savings…
Battle over plan to tap $4.3 trillion of worker savings to fund compensation scheme after super funds collapse
Assistant Treasurer Daniel Mulino revealed the government was considering getting the super sector to contribute to the Compensation…
More players involved in Shield, First Guardian collapses face ASIC legal action
Australia’s corporate watchdog is suing Interprac — the licensee that oversaw financial planners — over alleged failures that…
As Australia’s retirement savings grow into world’s second biggest, government to review consumer protections
Australia’s $4.3 trillion superannuation sector is on track to become the world’s second-largest retirement savings pool by 2031.…