Financial Services Compensation Scheme of Last Resort Levy (Collection) (Revised Cost Estimates for 2026-27 Levy Period) Determination 2026

Financial Services Compensation Scheme of Last Resort Levy (Collection) (Revised Cost Estimates for 2026-27 Levy Period) Determination 2026

The Compensation Scheme of Last Resort Limited, operator of the financial services compensation scheme of last resort, makes the following determination.

Dated   1 July 2026

Compensation Scheme of Last Resort Limited

Operator of the Financial Services Compensation Scheme of Last Resort

Contents

Part 1—Preliminary

1  Name 

2  Commencement

3  Authority

4  Definitions

Part 2—Revised estimates of claims, fees and costs for 2026‑27 levy period

5  Credit intermediaries sub-sector

6  Excess amount—credit intermediaries sub-sector

7  Credit providers sub-sector

8  Excess amount—credit providers sub-sector

9  Licensed personal advice sub-sector

10  Excess amount—licensed personal advice sub-sector

11  Securities dealers sub-sector

12  Excess amount—securities dealers sub-sector

Part 1—Preliminary

1  Name

  This instrument is the Financial Services Compensation Scheme of Last Resort Levy (Collection) (Revised Cost Estimates for 2026-27 Levy Period) Determination 2026.

2  Commencement

 (1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

 (2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3  Authority

  This instrument is made under the Financial Services Compensation Scheme of Last Resort Levy (Collection) Act 2023.

4  Definitions

Note:  Expressions have the same meaning in this instrument as in the Financial Services Compensation Scheme of Last Resort Levy (Collection) Act 2023 as in force from time to time—see paragraph 13(1)(b) of the Legislation Act 2003.

  In this instrument:

2026-27 levy period means the 12-month period starting from 1 July 2026.

credit intermediaries sub-sector has the same meaning as in the Financial Services Compensation Scheme of Last Resort Levy Regulations 2023.

credit providers sub-sector has the same meaning as in the Financial Services Compensation Scheme of Last Resort Levy Regulations 2023.

financial services compensation scheme of last resort has the same meaning as in the Corporations Act 2001.

licensed personal advice sub-sector has the same meaning as in the Financial Services Compensation Scheme of Last Resort Levy Regulations 2023.

securities dealers sub-sector has the same meaning as in the Financial Services Compensation Scheme of Last Resort Levy Regulations 2023.

the Act means the Financial Services Compensation Scheme of Last Resort Levy (Collection) Act 2023.

Part 2—Revised estimates of claims, fees and costs for 2026‑27 levy period

Note 1: The 2026-27 levy period is the fourth levy period.

Note 2: This revised determination contains updated amounts for the 2026-27 levy period and is made under section 10 of the Act. Amounts determined under section 9 of the Act do not need to be revised for the purpose of this determination.

5  Credit intermediaries sub-sector

  Under subsection 10(1) of the Act, for the 2026-27 levy period and the credit intermediaries sub-sector, the determined revised estimate is $2,059,598.99 being the sum of the following revised amounts:

 (a) for the purposes of paragraph 9(1)(a) of the Act, the amount of $1,001,028.25;

 (b) for the purposes of paragraph 9(1)(b) of the Act, the amount of $1,631,815.11, comprising the following:

 (i) $184,638.93 (see subparagraph 9(1)(b)(i) of the Act);

 (ii) $1,222,176.18 (see subparagraph 9(1)(b)(ii) of the Act);

 (iii) $225,000.00 (see subparagraph 9(1)(b)(iii) of the Act);

 (iv) $0.00 (see subparagraph 9(1)(b)(v) of the Act);

 (c) for the purposes of paragraph 9(1)(c) of the Act, the amount of $0.00;

less the excess amounts referred to in subsections 6(1) and (2) of this instrument.

Note:  The sum of the revised estimate of $2,059,598.99 is the total of the amounts referred to in paragraphs (a) and (b) of this section, less the revised excess amount referred to in subsection 6(1).

6  Excess amount—credit intermediaries sub-sector

 (1) For the purposes of subsection 10(1) and paragraph 9(2)(a) of the Act, the revised excess amount for the earlier levy period and the credit intermediaries sub-sector is $573,244.37.

 (2) For the purposes of subsection 10(1) and paragraph 9(2)(c) of the Act, the revised excess amount for the fourth levy period and the credit intermediaries sub-sector is $0.00.

7  Credit providers sub-sector

  Under subsection 10(1) of the Act, for the 2026-27 levy period and the credit providers sub-sector, the determined revised estimate is $2,036,576.11 being the sum of the following revised amounts:

 (a) for the purposes of paragraph 9(1)(a) of the Act, the amount of $182,430.59;

 (b) for the purposes of paragraph 9(1)(b) of the Act, the amount of $1,991,172.27, comprising the following:

 (i) $540,705.32 (see subparagraph 9(1)(b)(i) of the Act);

 (ii) $1,225,466.95 (see subparagraph 9(1)(b)(ii) of the Act);

 (iii) $225,000.00 (see subparagraph 9(1)(b)(iii) of the Act);

 (iv) $0.00 (see subparagraph 9(1)(b)(v) of the Act);

 (c) for the purposes of paragraph 9(1)(c) of the Act, the amount of $0.00;

less the excess amounts referred to in subsections 8(1) and (2) of this instrument.

Note:  The sum of the revised estimate of $2,036,576.11 is the total of the amounts referred to in paragraphs (a) and (b) of this section, less the revised excess amount referred to in subsection 8(1).

8  Excess amount—credit providers sub-sector

 (1) For the purposes of subsection 10(1) and paragraph 9(2)(a) of the Act, the revised excess amount for the earlier levy period and the credit providers sub‑sector is $137,026.75.

 (2) For the purposes of subsection 10(1) and paragraph 9(2)(c) of the Act, the revised excess amount for the fourth levy period and the credit providers sub‑sector is $0.00.

9  Licensed personal advice sub-sector

  Under subsection 10(1) of the Act, for the 2026-27 levy period and the licensed personal advice sub-sector, the determined revised estimate is $190,262,208.30 being the sum of the following revised amounts:

 (a) for the purposes of paragraph 9(1)(a) of the Act, the amount of $168,924,426.43;

 (b) for the purposes of paragraph 9(1)(b) of the Act, the amount of $24,944,017.54, comprising the following:

 (i) $21,815,860.18 (see subparagraph 9(1)(b)(i) of the Act);

 (ii) $2,603,157.36 (see subparagraph 9(1)(b)(ii) of the Act);

 (iii) $525,000.00 (see subparagraph 9(1)(b)(iii) of the Act);

 (iv) $0.00 (see subparagraph 9(1)(b)(v) of the Act);

 (c) for the purposes of paragraph 9(1)(c) of the Act, the amount of $0.00;

less the excess amounts referred to in subsections 10(1) and (2) of this instrument.

Note:  The sum of the revised estimate of $190,262,208.30 is the total of the amounts referred to in paragraphs (a) and (b) of this section, less the revised excess amount referred to in subsection 10(1).

10  Excess amount—licensed personal advice sub-sector

 (1) For the purposes of subsection 10(1) and paragraph 9(2)(a) of the Act, the revised excess amount for the earlier levy period and the licensed personal advice sub-sector is $3,606,235.67.

 (2) For the purposes of subsection 10(1) and paragraph 9(2)(c) of the Act, the revised excess amount for the fourth levy period and the licensed personal advice sub-sector is $0.00.

11  Securities dealers sub-sector

  Under subsection 10(1) of the Act, for the 2026-27 levy period and the securities dealers sub-sector, the determined revised estimate is $3,709,230.52 being the sum of the following revised amounts:

 (a) for the purposes of paragraph 9(1)(a) of the Act, the amount of $2,014,637.13;

 (b) for the purposes of paragraph 9(1)(b) of the Act, the amount of $1,776,963.10, comprising the following:

 (i) $356,418.13 (see subparagraph 9(1)(b)(i) of the Act);

 (ii) $1,195,544.97 (see subparagraph 9(1)(b)(ii) of the Act);

 (iii) $225,000.00 (see subparagraph 9(1)(b)(iii) of the Act);

 (iv) $0.00 (see subparagraph 9(1)(b)(v) of the Act);

 (c) for the purposes of paragraph 9(1)(c) of the Act, the amount of $0.00;

less the excess amounts referred to in subsections 12(1) and (2).

Note:  The sum of the revised estimate of $3,709,230.52 is the total of the amounts referred to in paragraphs (a) and (b) of this section, less the revised excess amount referred to in subsection 12(1).

12  Excess amount—securities dealers sub-sector

 (1) For the purposes of subsection 10(1) and paragraph 9(2)(a) of the Act, the revised excess amount for the earlier levy period and the securities dealers sub‑sector is $82,369.71.

 (2) For the purposes of subsection 10(1) and paragraph 9(2)(c) of the Act, the revised excess amount for the fourth levy period and the securities dealers sub‑sector is $0.00.