SMSF Association Submission
The SMSF Association welcomes the opportunity to make a submission on the establishment and potential design of a compensation scheme of last resort (CSLR).
The SMSF Association’s submission supports the creation of a CSLR and appreciates the key role it can play in protecting consumers and in providing confidence in the financial services industry. Overall, the introduction of a CSLR will install confidence and trust in the sector for consumers, especially when selecting a financial firm. It will also encourage consumers to seek financial advice which is crucial given the complexities regarding SMSFs.