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Showing 31 - 40 of 1069 results for "licensees"

AFCA tightens wholesale investor remit

KARREN VERGARA  |  FRIDAY, 17 NOV 2023
... than $2.5 million or $250,000, you are a professional investor under Section 761 G (7) (D)," he said. This includes AFS Licensees with over $10 million dollars or the investment amount is at least $500,000 (under section 761G (7)(A)). "You can also be ...

Adviser levy discount amounts to $8m saving

KARREN VERGARA  |  FRIDAY, 10 NOV 2023
... estimates from the Financial Advice Association Australia (FAAA). Based on two legislative instruments dated November 3, licensees will likely pay $2818 per adviser. "When ASIC published their estimates for the 2022-23 year, in June, the total cost recoveries ...

ASIC updates qualified tax relevant provider definition

KARREN VERGARA  |  TUESDAY, 7 NOV 2023
... (financial) advice services for the first time," ASIC said. "It is important to note that it is the responsibility of AFS licensees to ensure that the information recorded on the Financial Advisers Register about their relevant providers is correct." ...

Licensees flout breach reporting regime: ASIC

KARREN VERGARA  |  WEDNESDAY, 1 NOV 2023
ASIC warned it is taking tougher action on licensees as they fail to comply with the reportable situations regime two years on. Of the 16,836 reports ASIC received from financial services and credit licensees in the year to June 2023, 17% took over ...

Piper Alderman investigates second CFD class action

CHLOE WALKER  |  WEDNESDAY, 25 OCT 2023
... recent years, ASIC has also successfully brought proceedings for breach of the Corporations Act against several CFD licensees operating in Australia, with penalties in excess of $75 million. In May the regulator issued stop orders against Saxo Capital ...

Insignia's managed account FUM swells

STAFF WRITER  |  MONDAY, 23 OCT 2023
... needs," Oliver said. "We will continue to grow our offering over the next 12 months in response to increasing demand from licensees for tailored services to meet varying client needs." This month Expand Extra will enable third-party MDA operators to ...

ASIC updates breach reporting rules

KARREN VERGARA  |  FRIDAY, 20 OCT 2023
... making changes to its reportable situations regime, which includes extending the reporting deadline for some breaches. Licensees will now have 90 days to submit a reportable situation instead of 30 days in situations that have "underlying circumstances ...

Renato Mota to leave Insignia Financial

JAMIE WILLIAMSON  |  FRIDAY, 20 OCT 2023
... Friendly Society. This was soon followed by plans to transform the advice business, consolidating all self-employed licensees into one brand to be owned by the advisers via a new equity model, while Godrey Pembroke was to be completely divested and a ...

Vista acquires second practice

KARREN VERGARA  |  MONDAY, 9 OCT 2023
... said. In April, Vista finalised its acquisition of Master Your Money Now, which was founded by Chris Carlin. "Changing licensees is always challenging [but] we've overall found it to be a very good experience and clients have found it to be business ...

Licensees shun remediation obligations: ASIC

KARREN VERGARA  |  TUESDAY, 26 SEP 2023
Many large licensees are failing to proactively remediate clients in a fair and timely manner, operating under a framework that lacks appropriate oversight and accountability. ASIC measured large licensees against standards in Regulatory Guide 277 Consumer ...