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Can I make a claim?

Learn about the eligibility criteria for claiming with us.

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How do I make a claim?

Find out about timelines, your rights and how we assess claims.

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For industry

Discover how the finance industry works with us to help consumers.

Shield and First Guardian home

Shield and First Guardian

Information for those impacted by the collapse of Shield and First Guardian.

Smiling hispanic senior couple posing looking at the camera

Can I make a claim?

Learn about the eligibility criteria for claiming with us.

Happy Healthy Seniors Couple on porch in front of house

How do I make a claim?

Find out about timelines, your rights and how we assess claims.

Senior couple spending leisure time at park.

For industry

Discover how the finance industry works with us to help consumers.

A senior woman with a concerned emotion at her laptop computer

About us

Explore our vision, scope and legislative framework.

997

claims paid

$122m

compensation paid

lifetime figures

Client case studies

Hugo

Financial advice

After several years of having a financial firm manage his SMSF, Hugo decided to take back control and look after it himself. As he began going through the details of his account, he discovered that two of the funds in which he held significant investments had been frozen in 2020 and were now essentially worthless.

hamish case study main

Carly

Financial advice

Carly's SMSF was managed by the same firm since 2012 and trusted their advice. In 2023, an authorised representative of the firm recommended she invest $50,000 in a high-yield fixed interest account. Carly soon learned the firm had no record of her investment.

carly case study main

Donna and Theo

Financial advice

Donna and her husband, Theo, were in their mid-forties when they decided to meet with an adviser they had known for several years. “I’d worked with Simon as a contractor long enough to have a fair idea of his business practices, and everything seemed above board and legitimate. I had no reason not to trust him,” explained Donna.

Liam

Financial advice

Liam engaged a financial firm in 2016 to obtain brokerage advice and other ad-hoc financial services. Around this time, the firm presented Liam with an opportunity to invest almost $100,000 in a capital raising exercise, advising that the company would list on the Australian Stock Exchange (ASX) within 24 months.

Andrea and Doug

Financial advice

Andrea and Doug decided that it was time to start thinking seriously about their retirement. They met with an adviser who informed them that by moving their superannuation out of their industry fund and into a self-managed superannuation fund (SMSF) they would retire with a higher balance.

Gabrielle and Jonathan

Financial advice

Gabrielle and Jonathan felt something wasn't right with the management of their superannuation. Unfortunately, their intuition was correct. As a result of poor financial advice, the couple lost a significant portion of their retirement savings.

gabrielle jonathan case study web

Harry

Financial advice

Harry was given inappropriate financial advice and as a result, lost more than $350,000.

harry case study web

Elizabeth

Financial advice

Single parent Elizabeth was offered a redundancy after a long and successful career. She chose her financial firm carefully because they were specialists in defined benefit superannuation.

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Client case studies

Hugo

Financial advice

After several years of having a financial firm manage his SMSF, Hugo decided to take back control and look after it himself. As he began going through the details of his account, he discovered that two of the funds in which he held significant investments had been frozen in 2020 and were now essentially worthless.

hamish case study main

Carly

Financial advice

Carly's SMSF was managed by the same firm since 2012 and trusted their advice. In 2023, an authorised representative of the firm recommended she invest $50,000 in a high-yield fixed interest account. Carly soon learned the firm had no record of her investment.

carly case study main

Donna and Theo

Financial advice

Donna and her husband, Theo, were in their mid-forties when they decided to meet with an adviser they had known for several years. “I’d worked with Simon as a contractor long enough to have a fair idea of his business practices, and everything seemed above board and legitimate. I had no reason not to trust him,” explained Donna.

Liam

Financial advice

Liam engaged a financial firm in 2016 to obtain brokerage advice and other ad-hoc financial services. Around this time, the firm presented Liam with an opportunity to invest almost $100,000 in a capital raising exercise, advising that the company would list on the Australian Stock Exchange (ASX) within 24 months.

Andrea and Doug

Financial advice

Andrea and Doug decided that it was time to start thinking seriously about their retirement. They met with an adviser who informed them that by moving their superannuation out of their industry fund and into a self-managed superannuation fund (SMSF) they would retire with a higher balance.

Gabrielle and Jonathan

Financial advice

Gabrielle and Jonathan felt something wasn't right with the management of their superannuation. Unfortunately, their intuition was correct. As a result of poor financial advice, the couple lost a significant portion of their retirement savings.

gabrielle jonathan case study web

Harry

Financial advice

Harry was given inappropriate financial advice and as a result, lost more than $350,000.

harry case study web

Elizabeth

Financial advice

Single parent Elizabeth was offered a redundancy after a long and successful career. She chose her financial firm carefully because they were specialists in defined benefit superannuation.

View all

Latest news and media

Compensation Scheme of Last Resort releases FY2027 initial levy estimate

With assistance from independent actuaries, and in alignment with the relevant legislation, the Initial Estimate for FY27 has been calculated at $137.5m.

MR sep2025

Compensation Scheme of Last Resort publishes submission to Treasury’s post-implementation review alongside FY2025 Impact Report

The Compensation Scheme of Last Resort (CSLR) has today released its submission to Treasury's post-implementation review into the Scheme. Additionally, the Scheme has published its FY2025 Impact Report, along with a comprehensive list of all firms against which it has paid compensation since it began operations.

revisedlevy040725

Compensation Scheme of Last Resort releases FY26 revised levy estimate

With the assistance of CSLR’s principal actuary, the revised estimate for the 2026 financial year has been calculated at $75.698m, down from the initial estimate published in January of $77.975m.

View all

Latest news and media

Compensation Scheme of Last Resort releases FY2027 initial levy estimate

With assistance from independent actuaries, and in alignment with the relevant legislation, the Initial Estimate for FY27 has been calculated at $137.5m.

MR sep2025

Compensation Scheme of Last Resort publishes submission to Treasury’s post-implementation review alongside FY2025 Impact Report

The Compensation Scheme of Last Resort (CSLR) has today released its submission to Treasury's post-implementation review into the Scheme. Additionally, the Scheme has published its FY2025 Impact Report, along with a comprehensive list of all firms against which it has paid compensation since it began operations.

revisedlevy040725

Compensation Scheme of Last Resort releases FY26 revised levy estimate

With the assistance of CSLR’s principal actuary, the revised estimate for the 2026 financial year has been calculated at $75.698m, down from the initial estimate published in January of $77.975m.

Slower claim volumes will result in underspend of FY25 levy funds

As we approach the end of the financial year and gain greater clarity on the volume and status of lodged claims likely to be paid in FY25, the full $24.1 million levied will not be fully utilised.

View all