In Australia, the federal government to provide guarantees against defects in professional insurance held by various financial advisors who are under the proposals being pushed by Maurice Blackburn. Law firm of the applicant states that the existing rules requiring advisers to keep "adequate" professional liability insurance is often seen as "grossly" inadequate.
The insurance company wants the consultants to be in possession of sufficient insurance to cover at least $ 5m claim. In addition, the company has asked for a common prosperity in any amount that exceeds the limit mentioned above.
Richard St. John, who is a leading financial services and well-known and expert in corporate governance, has been holding several meetings on a possible legal compensation scheme that is induced by the collapse of the financial storm and OPEs first. Final Report Richard St. John on the same is expected to go to the Treasury in August.
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