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Showing 91 - 100 of 100+ results for "AFSL"

Judgement delivered in binary options fraud

ALLY SELBY  |  FRIDAY, 19 JUN 2020
... through the websites www.titantrade.com and hittps://tradettn.com without holding an Australian financial services licence (AFSL) and without providing the requisite PDS'. The Court found that One Tech Media deliberately misled and deceived Australian ...

ASIC cracks down on investment manager

ALLY SELBY  |  MONDAY, 15 JUN 2020
The Australian arm of a global investment management company has agreed to additional conditions imposed on its AFSL by the corporate watchdog. It comes after Societe Generale Securities Australia (SGSA) was criminally charged with breaching client ...

Research firm bolsters executive leadership

HARRISON WORLEY  |  WEDNESDAY, 10 JUN 2020
A former Australian Unity Investments head of distribution has been appointed to the executive leadership of a funds management research house. Active fund information source Australian Fund Monitors has appointed Damen Purcell as chief operating officer ...

ASIC mainly concerned with media releases: Lawyer

ELIZABETH MCARTHUR  |  TUESDAY, 9 JUN 2020
... to show the world how tough it is," Yazbeck said. He offered an example of a client who moved to voluntarily cancel their AFSL (for commercial reasons) but ASIC advised it wished to cancel the AFSL for alleged breaches. Even though the AFSL was cancelled ...

CBA coughs up $5m over RC case study

ALLY SELBY  |  TUESDAY, 9 JUN 2020
... Act. The Judge said CBA had breached its obligation to do "all things necessary" to ensure that the services covered by its AFSL were provided fairly, honestly and efficiently, with the failures arising from the bank negligence in establishing and maintaining ...

Dealer groups slam FPA policy

ELIZABETH MCARTHUR  |  THURSDAY, 4 JUN 2020
... compliance with the Corporations Act are not discretionary. The scale, systems & processes, and risk management focus of the AFSL provides an efficient way to deal with the in-built cost of providing compliant financial advice." The dealer group leaders ...

Calls for overhaul of AFSL system

ELIZABETH MCARTHUR  |  WEDNESDAY, 3 JUN 2020
... registration for individual advisers to replace the current system. Currently, an Australian financial services licence (AFSL) is required to provide advice. FPA chief executive Dante De Gori said the law should be changed to focus the AFSL system on ...

FASEA boycott sparks in-fighting

ELIZABETH MCARTHUR  |  TUESDAY, 2 JUN 2020
... 100 advisers. ASIC surveillance identified serious concerns about the licensee's compliance with its obligations as an AFSL, failing to do all things necessary to ensure financial services provided were done so efficiently, honestly and fairly. "The ...

Sequoia to acquire wealth group

KANIKA SOOD  |  MONDAY, 1 JUN 2020
... existing advisers and corporate authorised representatives. The advisers and reps will become authorised under SWM's AFSL from mid July 2020. The acquisition consideration may be up to $1 million depending on the number of advisers that accept the ...

ASIC cancels two AFSLs

ELIZA BAVIN  |  MONDAY, 1 JUN 2020
ASIC has cancelled the Australian financial services licenses of Western Australia-based, Personal Risk Management and Melbourne-based Australian Golden Securities ASIC said Personal Risk's cancellation took effect on 21 May 2020, after the company ...