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 * What is the CSLR?
   * What happens next?
   * What should I do in the meantime?
 * Who’s eligible?
 * What’s the CSLR process?


COMPENSATION SCHEME OF LAST RESORT



On 22 June 2023, the Australian Parliament passed legislation establishing a
Compensation Scheme of Last Resort (CSLR).

The Federal Government has announced that consumers will be able to lodge claims
for compensation from 2 April 2024, with the first compensation payments to
follow shortly afterwards.




The CSLR will strengthen trust and confidence in the dispute resolution
framework for financial services by ensuring the victims of financial misconduct
have access to redress.

Now that legislation establishing a CSLR has been passed, we will be putting the
people and processes in place to ensure the smooth running of the scheme.

CSLR will not be in operation until 2 April 2024. We look forward to being able
to assist those eligible to access the CSLR scheme at that time.






LEARN MORE ABOUT THE COMPENSATION SCHEME OF LAST RESORT





WHAT IS THE CSLR?

The establishment of a CSLR was recommended by the Ramsay Review and supported
by the Financial Services Royal Commission.

What is the CSLR?


WHO’S ELIGIBLE?

The legislation sets out who is eligible to lodge a claim for compensation with
CSLR from
2 April 2024.


Who’s eligible?


WHAT’S THE CSLR PROCESS?

A number of steps need to have occurred before application can be made to the
CSLR.


What’s the CSLR process?



WHAT HAPPENS NEXT?

We’re currently putting in place the people and processes to ensure smooth
running of the scheme from 2 April 2024.


What happens next?


LATEST NEWS & MEDIA

CSLR is committed to sharing information about our work with the public and
improving awareness about our service.


Latest news & media


PRE-CSLR COMPLAINTS ESTIMATE

The pre-CSLR complaints estimate is the first to be provided under the
legislative framework passed by the Australian Government in June 2023.

Pre-CSLR complaints estimate


THANK YOU FOR YOUR PATIENCE



We thank you for your continued patience as we go about our work to prepare the
CSLR to accept applications.

We acknowledge that many people have suffered significant financial losses and
that this has been a stressful time.

We also acknowledge that some people will be very disappointed that they are not
eligible for the CSLR, or that they will not be fully compensated for their
losses.

The design of the CSLR legislation is a matter of government policy.

You can see the legislation here.


“The successful implementation of the CSLR will further strengthen consumer
trust and confidence in Australia’s financial system.”



– The Hon Stephen Jones MP

Assistant Treasurer and Minister for Financial Services


LATEST NEWS

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   CHAIR APPOINTMENT AND SCHEME START DATE
   
   February 27, 2024

 * --------------------------------------------------------------------------------
   
   
   CSLR APPOINTS FORMER UNISUPER CEO AS DIRECTOR
   
   January 16, 2024

 * --------------------------------------------------------------------------------
   
   
   CSLR BOARD ANNOUNCES PRE-CSLR COMPLAINT ESTIMATE
   
   January 8, 2024

 * --------------------------------------------------------------------------------
   
   
   CSLR APPOINTS CEO AND A NEW DIRECTOR
   
   December 7, 2023

 * --------------------------------------------------------------------------------
   
   
   FEDERAL GOVERNMENT AUTHORISES CSLR SCHEME OPERATOR
   
   September 25, 2023

 * --------------------------------------------------------------------------------
   
   
   TRANSITIONAL GOVERNANCE ARRANGEMENTS
   
   August 15, 2023



Other help

The National Debt Helpline offers free, independent and confidential assistance
for people in financial hardship. You can visit their website or call them
on 1800 007 007.

If you are feeling distressed

 * Visit Beyond Blue’s website or contact them on 1300 22 4636
 * Lifeline is available via this website or on 13 11 14


ABOUT

 * What is the CSLR?
   * What happens next?
   * What should I do in the meantime?
 * Who’s eligible?
 * What’s the CSLR process?


NEWS & OUTREACH

 * Latest news & media


SOCIAL

 * LinkedIn



Compensation Scheme of Last Resort Limited ABN 17 669 477 052