Thousands of investors who lost millions when First Guardian and Shield Master Funds collapsed are pursuing further compensation through a class action. While some received capital reimbursements, they argue they were not compensated for lost earnings on their investments.
Australia's Compensation Scheme of Last Resort (CSLR) for victims of financial misconduct faces a $170 million funding shortfall. Introduced after the banking royal commission, the scheme aims to help consumers recover losses from insolvent firms but is capped at $150,000 per claim.
Australia's Compensation Scheme of Last Resort (CSLR) faces a $170 million funding shortfall, largely due to high-profile collapses like First Guardian and Shield, impacting thousands of investors who lost retirement savings. The scheme, intended to help victims of financial misconduct, requires significantly more funds than initially estimated.
Australia's Compensation Scheme of Last Resort (CSLR) faces a $170 million funding shortfall, largely due to high-profile collapses like First Guardian and Shield, impacting thousands of investors. The scheme, intended to compensate victims of financial misconduct, needs increased levies from financial advisers and super funds to cover the deficit.
Following Pauline Hanson's speech attacking multiculturalism, climate action, the UN, and the ABC/SBS, her poll numbers have stalled. Even One Nation supporters are reportedly concerned about her policy offerings. Guardian Australia and Essential Media discuss the impact of her pitch.
