‘Lack of transparency’ around PI and compensation: SIAA
In response to a Financial Services Council (FSC) green paper from earlier this year, the Stockbrokers and Investment Advisers Association (SIAA) said there are a range of issues in the way that PI insurance intersects with advice firm failures. According to the association, this very much includes the Compensation Scheme of Last Resort (CSLR), the design of which “excluded recognition of ASIC’s role in ensuring...
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