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Showing 91 - 100 of 111 results for "AFS licensees"

CBA, ASIC unveil details of new compensation scheme

LAURA MILLAN  |  FRIDAY, 8 AUG 2014
... planning businesses. As part of the new program, ASIC will appoint an external compliance expert to oversee the AFS licensees' compliance with the conditions. "The expert will also review whether the steps taken by the licensees to identify both the ...

ASIC cancels 8 AFSLs after review

LAURA MILLAN  |  TUESDAY, 22 JUL 2014
... This is the first time that ASIC has published the finding of its review and it looked at the conduct of a total 72 AFS licensees. As part of the review the regulator was also able to get 38 licensees to voluntarily comply and all have now lodged all ...

ASIC eyes fee for service funding model

LAURA MILLAN  |  TUESDAY, 8 APR 2014
... regulate Australian Financial Services licensees. However, ASIC collects only $3.7 million in registry fees from AFS licensees, approximately 3.5% of the cost of regulation. ASIC proposed a hybrid model based on a fee for service, but where "all costs ...

ASIC asks for public adviser register to track "bad apples"

LAURA MILLAN  |  FRIDAY, 1 NOV 2013
... and take action against bad apples in the financial services industry." "We have received reports from a number of AFS licensees indicating that they have not been able to conduct proper reference checks on prospective employees because the former licensee ...

ASIC warns consumers about NRAS property ads

MARK SMITH  |  TUESDAY, 22 OCT 2013
... person you are dealing with is licensed to provide financial product advice by searching ASIC's public register of AFS licensees or authorised representatives," said ASIC. "ASIC is focused on protecting consumers and where we see people recommending ...

ASIC raises bar on OTC derivatives

MELANIE TIMBRELL  |  WEDNESDAY, 1 AUG 2012
... (OTC) derivative issuers. ASIC commissioner Greg Tanzer said the new requirements had been developed to help ensure AFS licensees have adequate resources to effectively manage operational risks. "Considering the complex and risky nature of retail OTC ...

ASIC warns industry about misusing term independent

LINDA HAUSKEN  |  THURSDAY, 3 MAY 2012
... statements about the independence of the licensee or the services they provide in breach of the Corporations Act. AFS licensees are prohibited from using the terms, 'independent', 'unbiased' or 'impartial' if they receive commission or volume-based payments. ...

ASIC cancels two financial services licences

CLAIRE MCGREAL  |  FRIDAY, 25 NOV 2011
... commitment to ensuring advice industry participants have adequate compliance measures in place and we encourage all AFS licensees to consider whether they need to review and raise their own compliance standards," said ASIC commissioner Peter Kell. Ferguson ...

Opus Capital offers EU olive branch to ASIC

ELISE BURGESS  |  FRIDAY, 14 OCT 2011
... commitment to hold gatekeepers to account, in particular to uphold the integrity of the financial requirements for AFS licensees that operate registered schemes," said ASIC Chairman Greg Medcraft. "The consequences of failing to meet licensee standards ...

ASIC surveillance sharpens focus on AFS licensees

MATT WOODINGTON  |  TUESDAY, 13 SEP 2011
... all products and services they advise upon. "The review has enabled ASIC to continue to engage with the largest AFS licensees and provide them with individual feedback to assist with assessment of risks in their business," said Medcraft. "We have been ...