Who’s eligible?

The CSLR will be open to applications from consumers who have an unpaid determination from AFCA relating to:

  • Personal financial advice provided to retail clients on relevant financial products 
  • Dealing in securities for retail clients (but not issuing securities) 
  • Providing credit (where a financial firm provides funds) 
  • Arranging credit (where someone like a mortgage or finance broker arranges funds)

However, other financial services will be outside the scope of the CSLR, such as:

  • Managed investment schemes (a form of collective investment where investors pool money to be managed by a third party, such as a property fund or agricultural scheme)
  • Dealing in foreign exchange or derivatives  
  • Arranging insurance (e.g. through a broker) 
  • Funeral insurance

You can read more about eligibility in the legislation here.

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