From www.professionalplanner.com.au: Outgoing Minister for Financial Services Stephen Jones indicated that the ‘but for’ provision in the Compensation Scheme of Last Resort (CSLR) may be revised, emphasizing the need for the scheme to be sustainable.

He highlighted concerns over the substantial levy estimate of $70.11 million for the financial advice profession and acknowledged criticism of the CSLR’s sustainability due to high costs from cases like Dixon Advisory and United Global Capital.

Jones reaffirmed support for the CSLR while stating that swift resolutions would be challenging and called for public interest to guide consensus in policy decisions.