Search ResultsShowing 1 - 10 of 100+ results for "AFS"
Adviser stole $200k from SMSFs
ELIZABETH MCARTHUR  |  TUESDAY, 6 AUG 2019
... 2016 so that Marigold Falconer could lodge an application for licence variation. In August 2016, ASIC cancelled the AFS licence of Marigold Falconer because it was unable to satisfy the regulator that it could obtain the appropriate ...
AMP MDA constraints frustrate advisers
ELIZABETH MCARTHUR  |  MONDAY, 5 AUG 2019
... and the imposition of additional licence conditions is part of ongoing efforts to make our expectations clear to AFS licensees." She added that new licence applicants and licensees seeking variations can expect ASIC to tailor licence ...
Spectrum Wealth representatives find new homes
ELIZABETH MCARTHUR  |  MONDAY, 29 JUL 2019
... who wish to find a new adviser have been advised by ASIC to make sure they are dealing with an adviser authorised by an AFS licensee. The decision by Spectrum to voluntarily cancel its licence comes after the departures of some key personnel. ...
Sam Henderson cops ASIC ban
KANIKA SOOD, JAMIE WILLIAMSON  |  WEDNESDAY, 24 JUL 2019
... how their clients' interests are being prioritised, especially if in-house products have higher ongoing fees. AFS licensees are responsible for ensuring that they disclose any associations that could potentially influence the financial ...
Managed investment scheme operator AFSL canned
ELIZABETH MCARTHUR  |  FRIDAY, 12 JUL 2019
... Said Jahani and John McIerney of Grant Thornton are the joint liquidators of both companies. Australian Mutual held an AFS licence since February 2006. Peter Krejci of BRI Ferrier was appointed voluntary administrator of Australian Mutual on ...
ASIC boosts AFSL application requirements
HARRISON WORLEY  |  MONDAY, 8 JUL 2019
... Day said the new process would ensure applications were not subject to delays in the future. "ASIC has reviewed the AFS licence assessment processes and has streamlined its assessment processes in some limited respects," Day said. "This is ...
Sydney advice firm loses AFSL
KANIKA SOOD  |  FRIDAY, 5 JUL 2019
... period information provided to ASIC by AWSM identified that AWSM would not be able to meet its obligations as an AFS licensee because of its financial position," ASIC said. AWSM is required to maintain their professional indemnity ...
ASIC bans adviser over super theft
ELIZABETH MCARTHUR  |  THURSDAY, 23 MAY 2019
... directed an employee to construct a back-dated Statement of Advice which was presented to his licensee, the now defunct AFS Group, in order to attempt to defend a complaint that was being investigated. It was reported some of McSweeny's ...
ASIC catches illegal dual licensees
ELIZABETH MCARTHUR  |  MONDAY, 13 MAY 2019
Fifty-eight Australian financial services (AFS) licensees have had their authorisation revoked after ASIC found they were also authorised representatives of other AFS licensees. ASIC has revoked authorisation of these dual licence holders after an ...
ASIC outlines enforcement efforts
ELIZABETH MCARTHUR  |  WEDNESDAY, 10 APR 2019
... $33 million to be paid out of fund assets without member approval." In its update, ASIC said in 2019 misconduct involving AFS licensees would be looked at closely. It said: "We are also focusing on responsible lending breaches, as well as the sale ...
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