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FSC plays a blinder on CSLR
Joe AstonColumnistThe Financial Services Council issued an enthusiastic statement upon the introduction to parliament last week of legislation to enact the Australian government’s Compensation Scheme of Last Resort.
The CSLR will compensate consumers up to $150,000 where they have a favourable determination from the Australian Financial Complaints Authority and their losses remain unpaid (usually) because their financial adviser, stockbroker or lender has gone under.
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