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Showing 121 - 130 of 936 results for "AFSL"

ASIC bans Brisbane-based financial services director

ELIZA BAVIN  |  TUESDAY, 25 FEB 2025
... business for eight years. Aardoom has been the director of JB Markets since August 2016, and was a key person named on the AFSL of JB Markets. The banning of Aardoom comes after ASIC found that in 2023, Aardoom, as sole director of JB Markets, entered ...

Centaur goes self-licensed, appoints former dealer group head

ANDREW MCKEAN  |  FRIDAY, 14 FEB 2025
Financial planning firm Centaur Financial Services has moved to its own AFSL and made a key hire in the process. Since 2015, Centaur has operated under a co-op licence with RFS Advice, Evalesco, and Guide Financial to reduce costs. However, Centaur ...

Civitas appoints new business partner

ANDREW MCKEAN  |  FRIDAY, 31 JAN 2025
... financial services provider that helps individuals and firms obtain and manage their Australian Financial Services Licence (AFSL), has appointed a new business partner. The new hire, James McCowan, who's based in Brisbane but will service regions nationally ...

Morgans Financial crowned largest licensee

KARREN VERGARA  |  WEDNESDAY, 8 JAN 2025
Morgans Financial has toppled AMP Financial Planning (AMP FP) to become the licensee with the largest number of financial advisers. Morgans recorded 431 active advisers at the end of 2024, while AMP FP had 426. On December 20, both AFSLs had 430 registered ...

Sanlam Private Wealth breaches licensee obligations, hit with enforceable undertaking

MATTHEW WAI  |  MONDAY, 6 JAN 2025
... to the outcomes of the independent review and will continue to work collaboratively with ASIC." Since 2009, Sanlam's AFSL enables it to provide advice for, and deal in, specified classes of financial products, together with custodial and depository ...

Court finds CFD issuers engaged in 'unconscionable conduct'

ELIZA BAVIN  |  MONDAY, 23 DEC 2024
... that USG breached its obligation to ensure that the financial services covered by its Australian financial services licence (AFSL) were provided "efficiently, honestly and fairly", where it offered those services to customers in China. The court determined ...

Settlement reached in Caddick class action

ELIZA BAVIN  |  MONDAY, 9 DEC 2024
... client in the lawsuit, who was retired, saw their life savings disappear thanks to Caddick who operated Maliver without an AFSL and used another company's licence without authorisation. Mackay Chapman also acted on behalf of one client during the receivership ...

Firms treat CSLR as 'insurance policy': FAAA

KARREN VERGARA  |  MONDAY, 2 DEC 2024
As the number of AFSL cancellations pile up due to the non-payment of Australian Financial Complaints Authority (AFCA) determinations, far too many financial services firms are taking advantage of the Compensation Scheme of Last Resort (CSLR), treating ...

AI no silver bullet for advice process, documentation: Experts

KARREN VERGARA  |  FRIDAY, 29 NOV 2024
... that he has not yet come across complaints involving advice documents produced by AI and may not. Ultimately, there's an AFSL that's responsible for the conduct, he said, noting that it doesn't matter how the adviser gets from A to B, provided ...

Second bidder enters SelfWealth takeover talks

KARREN VERGARA  |  FRIDAY, 15 NOV 2024
... of its proposal. In 2021, ASIC slapped AxiCorp with additional conditions for several compliance failures. AxiCorp's AFSL was suspended for four months after the regulator found it failed to comply with certain financial services laws. The breaches ...