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Showing 111 - 120 of 162 results for "AFS Licensee"

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 ...

ASIC widens conflicted adviser remuneration rules

ALEX BURKE  |  THURSDAY, 7 DEC 2017
... "However, the exclusion will only apply if the client has authorised passing on the benefits in this way, and no AFS licensee or authorised representative that passes on a benefit has discretion over the portion of the benefit that is passed on," ASIC ...

Small licensees are PI insurance compliant: ASIC

KARREN VERGARA  |  WEDNESDAY, 30 AUG 2017
The majority of small Australian financial services licensees are meeting professional indemnity (PI) insurance obligations, according to an ASIC investigation. ASIC's review included 56 small AFS licensees with 20 or less authorised representatives ...

ASIC flags stronger adviser surveillance

KARREN VERGARA  |  WEDNESDAY, 23 AUG 2017
About $618.8 million was paid in compensating and remediating corporate misconduct in the six months to June - almost a fourfold increase on the second half of 2016. During the period, ASIC removed 23 individuals from working in financial service; commenced ...