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Showing 1 - 10 of 1071 results for "AFS"

Hostplus rejects anti-competitive behaviour claims

KARREN VERGARA  |  TUESDAY, 12 MAR 2024
Hostplus rejects claims it is promoting anti-competitive behaviour in attempting to ban human resources technology platforms from offering employees choice of superannuation funds at the onboarding process. Employment Hero chief executive Ben Thompson ...

ASIC takes further action on Prospero

KARREN VERGARA  |  MONDAY, 4 MAR 2024
... Consequently, ASIC has applied to the Federal Court to wind up Prospero Markets "on just and equitable grounds", shortly after its AFS Licence was suspended in December 2023 for failing to lodge its 2023 audited financial accounts. Investors have contacted ...

DASS settlement pending court approval, victims urged to claim

KARREN VERGARA  |  WEDNESDAY, 28 FEB 2024
The federal court will soon determine if it will approve the $16 million to settle the class action against E&P Financial Group as some victims of Dixon Advisory and Superannuation Services (DASS) are running out of time to make a claim. On 3 April ...

ASIC files lawsuit against unlicensed director, companies

JAMIE WILLIAMSON  |  FRIDAY, 16 FEB 2024
The corporate regulator filed a lawsuit against a Queensland man who allegedly deceived people he knew into handing over $100 million to invest in companies he owned without a financial services licence. ASIC commenced proceedings in the Federal Court ...

New chair for iExtend

CHLOE WALKER  |  WEDNESDAY, 14 FEB 2024
The founder of The Sentient Group and AMP's private capital business has been appointed chair of life insurer iExtend. Peter Cassidy is taking on the role. Cassidy established AMP's private capital business in 1993, managing investment funds across ...

Jailed adviser permanently banned by ASIC

JAMIE WILLIAMSON  |  TUESDAY, 13 FEB 2024
A former financial adviser who was jailed for stealing more than $1 million from his clients' superannuation to feed a gambling problem is now permanently banned from the industry. In September 2023, Mark Raymond Sebo was found guilty of misappropriating ...

Too many Aussies eligible for wholesale products: FSC

ANDREW MCKEAN  |  TUESDAY, 13 FEB 2024
... based on their original qualification. These changes, nevertheless, come with transition costs for financial advisers and AFS license holders, including one-off implementation expenses. Advisers may also face increased compliance demands and operational ...

Crypto fintech needed AFSL, court says

JAMIE WILLIAMSON  |  MONDAY, 12 FEB 2024
ASIC has had its first court win in relation to cryptocurrency, with fintech Block Earner found to have offered a financial product to retail investors without a licence. However, it was a mixed outcome for the regulator, with another allegation quashed. ...

ASIC chases 757 adviser registrations

KARREN VERGARA  |  FRIDAY, 9 FEB 2024
... relevant providers who were not registered in early February, reminding them of the requirement to be registered by their AFS Licensee. "ASIC encourages relevant providers to check their registration status on the Financial Advisers Register today to ...

J.P. Morgan Asset Management enhances adviser portal

JAMIE WILLIAMSON  |  THURSDAY, 8 FEB 2024
Financial advisers can now access premium content and portfolio analytics via J.P. Morgan Asset Management's upgraded adviser portal. JPMAM said it's focused on "providing access to new tools and functionality in a more customised way for advisers." ...
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