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Showing 111 - 120 of 165 results for "AFS Licensee"

ASIC cracks down on non-compliant AFSL

JAMIE WILLIAMSON  |  MONDAY, 21 JAN 2019
ASIC has slapped additional conditions on the AFSL of an advice practice operating on the New South Wales Central Coast. Surveillance by ASIC showed HNW Planning failed to adequately monitor and supervise its representatives. Its audit processes were ...

AAT upholds AFSL rejection

OSKAH DUNNIN  |  TUESDAY, 15 JAN 2019
... failed to provide proper financial and employment records to ASIC, alongside misrepresenting himself as an authorised AFS licensee. The AAT ruled that much of Watson's documentation failed to meet regulatory standards. In particular, the AAT said ...

ASIC cans advice business AFSL

JAMIE WILLIAMSON  |  TUESDAY, 18 DEC 2018
A boutique financial advice business has had its AFSL cancelled for failing to adequately manage conflicts of interest after clients were advised to invest their superannuation in the practice. ASIC has cancelled the AFSL of Evermore Money Management ...

ASIC and Austplan agree to mutual breakup

DARREN SNYDER  |  FRIDAY, 26 OCT 2018
Austplan will lose its Australian financial services licence in November following ASIC surveillance which found deficiencies in the establishment of self-managed superannuation funds and client referrals. ASIC will cancel Austplan's AFSL effective ...

Dover AFSL cancelled, McMaster exits industry

JAMIE WILLIAMSON  |  FRIDAY, 29 JUN 2018
... client complaints and claims. ASIC was also concerned that Dover lacked the organisational competency required of an AFS licensee. Following discussions between ASIC and Dover, the dealer group informed ASIC it would cease operating its financial services ...

ASIC consults on advice code monitoring bodies

JAMIE WILLIAMSON  |  TUESDAY, 15 MAY 2018
ASIC released its consultation paper detailing proposals for approving and supervising compliance schemes for the incoming code of ethics that all financial advisers must adhere to. Under the professional standards legislation, the code of ethics developed ...

Best interest duty failures lead to EU

JAMIE WILLIAMSON  |  MONDAY, 19 FEB 2018
... also unable to be a director of a financial services company that is a corporate authorised representative of an AFS licensee; or apply for an AFSL. Orth will also make a $400,000 donation to Financial Literacy Australia.

ASIC puts corner-cutting advisers on notice

JAMIE WILLIAMSON  |  MONDAY, 22 JAN 2018
ASIC is warning financial advice dealer groups about the consequences of failing to correctly witness binding death nominations for superannuation benefits. The regulator said many nominations are at risk of being rejected by trustees as it has become ...

HLB Mann Judd revises AFSL

JAMIE WILLIAMSON  |  THURSDAY, 18 JAN 2018
A division of financial services firm HLB Mann Judd can no longer provide independent expert advice under an agreement with ASIC. The corporate regulator has accepted a voluntary variation of the AFSL held by HLB Mann Judd Melbourne's corporate finance ...

ASIC cancels AFSL, accepts EU

DARREN SNYDER  |  TUESDAY, 16 JAN 2018
... agreed to not act as a director, secretary, shareholder, employee, responsible manager or any other officers of an AFS licensee or authorised representative for two years; and notify ASIC and complete the relevant training and education requirements ...