The Institute of Financial Professionals Australia (IFPA) has welcomed the Government’s decision to spread the 2025-26 Compensation Scheme of Last Resort (CSLR) special levy across all 23 retail-facing sub-sectors of the financial services industry, rather than primarily burdening financial advisers.
Minister for Financial Services, The Hon Dr Daniel Mulino, has announced a $47.3 million special levy for 2025–26 following the collapse of the Shield and First Guardian Master Funds. The levy will be applied across advice, platforms, superannuation trustees, responsible entities and other retail-facing businesses.
