What is the CSLR?

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

The CSLR is a scheme designed to make payments on a last-resort basis to eligible consumers where determinations by the Australian Financial Complaints Authority (AFCA) for compensation remain unpaid in the financial sub-sectors specified in the legislation.

The CSLR will facilitate the payment of up to $150,000 in compensation to consumers who meet the eligibility criteria.

There will be no charge to consumers for access to 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.