Compensation Scheme of last resort

Written on the 22 April 2020 by SAFCA

Compensation Scheme of last resort

Below are links to articles Simon Gilbert-Kent contributed to (particularly the Australian Lawyers Alliance one) about the need to advance the implementation of the Government's "compensation scheme of last resort" for individuals who have suffered loss due to negligent financial advice and the financial adviser/financial institution has become insolvent or is otherwise unable to pay compensation.

We are pushing the Government to urgently push on with the scheme in light of the economic crisis triggered by COVID-19.

https://www.miragenews.com/covid-19-financial-losses-highlight-urgent-need-for-compensation-scheme-of-last-resort/

https://www.lawyersalliance.com.au/news/covid-19-financial-losses-highlight-urgent-need-for-compensation-scheme-of-last-resort

The scheme is crucial in providing compensation to so many individuals who have suffered devastating losses at the hands of the financial adviser/institution, only to discover there's no money in the pot to recover their losses from because the financial advisor/institution has gone bust.

Kind Regards,

Simon

Simon Gilbert-Kent | Associate
E: SGilbert-Kent@mauriceblackburn.com.au | T: (08) 7109 2710 | F: (08) 7109 2790

     

Maurice Blackburn Lawyers
420 King William Street, Adelaide SA 5000
www.mauriceblackburn.com.au

   

 

https://services.mauriceblackburn.com.au/Assets/images/facebook.jpg

 

https://services.mauriceblackburn.com.au/Assets/images/twitter.jpg

 

https://services.mauriceblackburn.com.au/Assets/images/linkdin.jpg


Maurice Blackburn is a leading Australian law firm certified to the international ISO 9001:2008 quality standard.
We are proud to be carbon neutral. Please consider the environment before printing this email.


This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom it is addressed. If you are not the intended recipient, any use, dissemination, forwarding, printing or copying of this email is strictly prohibited. If you have received this email in error please notify the sender by reply email, delete the email, destroy any printed copy and do not disclose or use its information in any way. For additional information regarding Maurice Blackburn's privacy policy, click here: http://www.mauriceblackburn.com.au/privacy-policy.aspx

 

Coronavirus Update
We are doing everything possible to ensure claims continue to progress and legal rights are not affected by the coronavirus pandemic. If any impact is identified we will advise clients as soon as possible.

 


Author: SAFCA

SAFCA

Suite 7 Wellington Centre, 2 Portrush Rd.
Payneham SA 5070