Ramsay Review financial services compensation scheme deferred

By David Jacobson The Government has released the Supplementary Final Report to the “Review of the financial system external dispute resolution and complaints framework”, which includes recommendations for the establishment of a limited financial services compensation scheme of last resort (CSLR). Background.
While the Royal Commission to investigate allegations of misconduct by Australian banks and other financial services providers will not affect the establishment of the Australian Financial Complaints Authority (AFCA), the new Banking Executive Accountability Regime or reforms to whistleblower protection regimes, the Royal Commission will examine many of the issues that have been considered as part of the supplementary Ramsay report and …read more

Source:: Bright Law

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