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Showing 101 - 110 of 1081 results for "AFS"

ASIC confirms advisers can offer home equity access guidance

ANDREW MCKEAN  |  TUESDAY, 10 JAN 2023
ASIC has clarified that the Centrelink Home Equity Access Scheme isn't a credit product, allowing advisers to include it in retirement plans. Responding to an inquiry by Capital Advisory financial planner Michael Miller, ASIC said the operation of the ...

ASIC FAR to display adviser QTRP status

CHLOE WALKER  |  TUESDAY, 10 JAN 2023
... Practitioners Board are taken to be QTRPs under transitional provisions. ASIC wrote to each of these advisers and their respective AFS licensees notifying them of their QTRP status. FAR will generally display that these financial advisers can provide ...

ASIC abandons $500k SMSF threshold

ANDREW MCKEAN  |  FRIDAY, 9 DEC 2022
ASIC has updated guidance on SMSF advice, deciding to remove $500,000 as an indicator of the "appropriateness of advice" to establish a SMSF. ASIC hasn't opted to nominate a minimum threshold but said fund expenses are proportionality higher, and net ...

ALRC should prioritise advice regulations: FPA

CASSANDRA BALDINI  |  THURSDAY, 8 DEC 2022
... obligations placed on individual financial planning practitioners should be separated from the requirements that apply to AFS licensees and product providers. "The ongoing dialogue between the ALRC, the FPA and the financial services sector more broadly ...

ASIC suspends, cancels AFSLs

CHLOE WALKER  |  WEDNESDAY, 7 DEC 2022
The corporate regulator suspended Quantum Funds Management Limited (QFML)'s AFSL and cancelled that of AFSL Group. The suspension of QFML follows the ban of its managing director Peter Gribble for failing to pay $2.5 million in Australian Financial ...

Financial advice among most qualified professions: Analysis

JAMIE WILLIAMSON  |  TUESDAY, 6 DEC 2022
Following education reforms, analysis of financial advisers' tertiary qualifications suggests the advice sector is now among the most highly educated professions in Australia. Rainmaker Information's 2022 review of advisers' ASIC-recognised qualifications ...

Diverger acquires licensee support firm

CASSANDRA BALDINI  |  THURSDAY, 1 DEC 2022
Diverger has acquired AFSL Compliance, a licensee support business, with a focus on delivering market leading solutions to self-licensed firms. The financial services company explained although it already provides services to both licensed and self-licensed ...

2023 adviser exam dates released

CHLOE WALKER  |  THURSDAY, 1 DEC 2022
... book the exam. "To make sure new financial advisers are issued an exam eligibility number in time to book for an exam, their AFS licensee should apply for an exam eligibility number through the ASIC Regulatory Portal no later than 15 days before the ...

Chuck out Chapter 7: Broome

CHLOE WALKER  |  THURSDAY, 24 NOV 2022
Ex-FPA chair Marisa Broome believes that when it comes to regulation for advisers, Chapter 7 of the Corporations Act is not fit for purpose. Addressing the crowd at the FPA Congress 2022, Broome said that for 90% of what she does as a planner, she doesn't ...

ASIC sues crypto fintech over unlicensed advice

JAMIE WILLIAMSON  |  THURSDAY, 24 NOV 2022
ASIC is taking a fintech to court for providing unlicensed financial advice on crypto-asset products. The regulator commenced civil penalty proceedings in Federal Court against Block Earner, an authorised representative of Flash Partners and AUSTRAC-registered ...