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Showing 111 - 120 of 198 results for "AFS license"

Sam Henderson cops ASIC ban

KANIKA SOOD, JAMIE WILLIAMSON  |  WEDNESDAY, 24 JUL 2019
The corporate regulator has banned high-profile financial adviser Sam Henderson, whose inappropriate financial advice was laid bare the in Royal Commission public hearings last year. The Sydney-based adviser was banned from providing financial services ...

Sydney advice firm loses AFSL

KANIKA SOOD  |  FRIDAY, 5 JUL 2019
A Sydney financial advice firm has had its AFSL cancelled by ASIC after an initial suspension period. ASIC earlier put Australasia Wealth Services and Management in suspension saying the firm had failed to obtain membership of the Australian Financial ...

ASIC catches illegal dual licensees

ELIZABETH MCARTHUR  |  MONDAY, 13 MAY 2019
Fifty-eight Australian financial services (AFS) licensees have had their authorisation revoked after ASIC found they were also authorised representatives of other AFS licensees. ASIC has revoked authorisation of these dual licence holders after an investigation ...

ASIC outlines enforcement efforts

ELIZABETH MCARTHUR  |  WEDNESDAY, 10 APR 2019
In the second half of last year ASIC brought criminal proceedings against nine individuals on 76 charges, with four people imprisoned as a result and $12.7 million imposed in civil penalties. ASIC also disqualified 28 directors and there were 72 instances ...

ASIC approves AMP for MDAs

HARRISON WORLEY  |  TUESDAY, 9 APR 2019
... transitionary period expired in 2018 and as such, AMP's advice business was required to seek a variation of its AFS license to comply with ASIC's updated position. The corporate regulator approved AMPFP's request, but also imposed additional ...

AMP overhauls wealth leadership

ELIZABETH MCARTHUR, JAMIE WILLIAMSON  |  THURSDAY, 4 APR 2019
AMP has announced five new appointments to its wealth management leadership team. Dedicated to providing better experiences and outcomes for clients, AMP has built out the executive team charged with overseeing its troubled wealth management business. ...

Major advice licensee in possible best interest breach

JAMIE WILLIAMSON  |  THURSDAY, 4 APR 2019
Extra conditions have been placed on the AFSL of one of Australia's biggest financial advice licensees following an investigation sparked by phenomenal growth in adviser numbers in just six months. SMSF Advisers Network has had additional licence ...

ASIC scolds banks over fee-for-no-service delays

HARRISON WORLEY  |  MONDAY, 11 MAR 2019
Australia's major financial services institutions are taking too long to remediate customers over their fee-for-no-service issues and ASIC is not pleased. The corporate regulator released an update to the "further review" programs currently underway ...

Accountant banned for bad SMSF advice

HARRISON WORLEY  |  TUESDAY, 19 FEB 2019
A Gold Coast accountant has been banned from providing financial services for three years, after agreeing to a court enforceable undertaking with ASIC. Jenan Oslem Thorne - who also goes by the names Cenan Thorne or Cenan Dikmen - was found by the corporate ...

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 ...