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Showing 21 - 30 of 1088 results for "AFS"

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." ...

SMSF scammers charged with criminal offences

KARREN VERGARA  |  WEDNESDAY, 7 FEB 2024
... fraudulent investment websites between November 2020 and July 2021 under various names. The website operators used two legitimate AFS Licences without their knowledge or consent. ASIC did not name the holders of the AFSLs. Cullia, who hails from Southbank ...

Unlicensed crypto investor faces jail time

CHLOE WALKER  |  TUESDAY, 6 FEB 2024
... qualified and licensed financial advisers or financial counsellors, not by individuals or corporations who neither hold an AFS licence, nor are authorised representatives of an AFS licensee," it said. "Crypto assets are highly speculative investments... ...

iExtend finds interim arrangement to operate

KARREN VERGARA  |  TUESDAY, 6 FEB 2024
After being rebuked by ASIC for operating without an AFS Licence, iExtend is now running under a Corporate Authorised Representative (CAR) arrangement for the interim. A CAR enables iExtend to act as an agent of an AFS Licensee, meaning it is authorised ...