OCV octaviar limited

Is the price right for you??, page-111

First 111 Last

Share
Profile

Follow
M3_Invest

3 Posts.

26/04/19

16:33

Post #: 38279957
Share

Originally posted by NOR: ↑

Hi m3 invest.*******.Hope this helps ..
****News Regulation Govt to create compensation scheme of last resort February 4, 2019 The federal government will create a compensation scheme of last resort (CSLR) that will be established under the oversight of the Australian Financial Complaints Authority (AFCA), following a recommendation from the banking royal commission. In its final report, the commission stated a compensation scheme, as recommended by a previous review of dispute resolution schemes chaired by Professor Ian Ramsay, should be established to deal with uncompensated losses where a financial services provider was no longer operating, was a member of a dispute resolution body or compensation exceeded the dispute resolution body’s monetary limits. At the time of the handing down of the report of that review in December 2017, the government stated it would defer its consideration of the recommendations to establish a scheme until after the commission had concluded its work, but now agreed to establish an industry-funded CSLR. “The CSLR will operate as a last resort mechanism to pay out compensation owed to consumers and small businesses that receive a court or tribunal decision in their favour or a determination from AFCA, but are unable to get the compensation owed by the financial firm — for example, because the firm has become insolvent,” the government said. The government also agreed to fund the payment of legacy unpaid determinations from the Financial Ombudsman Service and Credit and Investments Ombudsman, and will require AFCA to consider disputes dating back to 1 January 2008, which is the period considered by the commission. More on SMS Trustee News

Expand

Thanks for that, that's helpful. SR Group have said their avenues for returns to investors are CDDA and CSLR, so good to know the latter is going ahead.

I'm still keen to know of the progress of the claim that's been discussed in this thread if someone can help.

Thanks,

Matt

OCV Price at posting: 0.0¢ Sentiment: None Disclosure: Not Held
Upvote

0 Great analysis

Reply

Top Stories

ACW

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

CC9

Chariot Corp unveils plans for Black Mountain "pilot mine" in Wyoming, US; shares jump +20%

FFM

Firefly positioned for copper growth in Canada ahead of resource update

COD

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

RCE

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

There are more pages in this discussion • 54 more messages in this thread...

First 111 Last

Add OCV (ASX) to my watchlist

Is the price right for you??, page-111

Top Stories

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

Chariot Corp unveils plans for Black Mountain "pilot mine" in Wyoming, US; shares jump +20%

Firefly positioned for copper growth in Canada ahead of resource update

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

Featured News