CSLR appoints David Berry as Chief Executive Officer
We are thrilled to have partnered with the Board of CSLR on the appointment of David Berry as Chief Executive Officer.
David will bring a unique set of skills and experience to this role which balance both industry and consumer perspectives,” a statement from the CSLR’s Transitional Board said.
He has driven large-scale organisational, technological and process transformations in the financial services industry. He is also an advocate of positive change for the community, in particular protection of those most vulnerable to financial harm or disadvantage.
David said: “The CSLR will play a very important role in helping victims of financial misconduct access redress and I very much look forward to contributing to this important work.”
David brings extensive experience as an executive, non-executive director and consultant who has made significant contributions to the financial services and consumer sectors through his strong leadership and change agenda.
The CSLR is designed to provide compensation for eligible complainants who have a determination in their favour from Australia’s financial ombudsman service, the Australian Financial Complaints Authority (AFCA), but the financial firm has become insolvent or cannot pay. Compensation of up to $150,000 may be available if a complaint falls into one of four financial sub-sectors specified in the legislation:
- personal financial advice
- securities dealing for retail clients
- the provision of credit (where a financial firm provides funds) or
- the arranging of credit (where someone like a mortgage or finance broker arranges funds)
As operator of the scheme, CSLR Ltd will be responsible for considering applications for compensation.