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Showing 121 - 130 of 573 results for %22Australian Financial Services Licence%22

Investment manager criminally charged

ELIZA BAVIN  |  WEDNESDAY, 18 MAR 2020
... provisions in the Corporations Act 2001. "Client money provisions protect the interests of clients of Australian financial services (AFS) licensees by separating client money from money belonging to licensees," ASIC said. "Breaching client money provisions ...

Early access to super scheme results in permanent ban

ELIZABETH MCARTHUR  |  WEDNESDAY, 11 MAR 2020
... credit activities. Goldenberg and Superfunded engaged in credit activities but neither he, nor Superfunded, held an Australian credit licence or were authorised credit representatives of an Australian credit licence. ASIC found that he contravened credit ...

Foreign fund managers granted licensing relief

HARRISON WORLEY  |  WEDNESDAY, 11 MAR 2020
Overseas fund managers are set to be exempt from requiring an Australian financial services licence for the purposes of convincing professional investors to become a client. Under ASIC's newly released foreign financial services provider regulatory ...

Court punishes OTC derivative issuers

HARRISON WORLEY  |  FRIDAY, 28 FEB 2020
... in systemic unconscionable conduct while providing derivative products to retail investors. According to the Court, Australian investors lost more than $30 million after investing in the products, which the Court found many clients were pressured into ...

Asset manager to be liquidated

ELIZA BAVIN  |  WEDNESDAY, 5 FEB 2020
... of the company and its insolvency," the regulator said. The news comes after ASIC suspended the company's Australian financial service licence for six months in mid-January this year and by the end of the month had applied to have the company wound-up. ...

Franklin Templeton veteran readies two funds

KANIKA SOOD  |  MONDAY, 13 JAN 2020
... 2018, a few months after leaving Warakirri after eight and a half years and obtaining the Australian financial services licence for his new firm. Holowesko is currently the firm's only client. It is still working through the performance fee structure ...

Concerns over cancelled ASFL complaints

ELIZA BAVIN  |  THURSDAY, 19 DEC 2019
... licence," the regulator said. "Since the suspension of KP International Group Australia AFS licence, the Australian Financial Complaints Authority (AFCA) has notified ASIC that it has received multiple complaints from people located offshore regarding ...

ASIC drags NAB to court for fees-for-no-service

HARRISON WORLEY  |  TUESDAY, 17 DEC 2019
... failures. Additionally, the regulator believes NAB contravened its overarching obligations as an Australian Financial Services licence holder to "act efficiently, honestly and fairly". ASIC's case claims NAB engaged in "unconscionable conduct" from ...

ASIC suspends Melbourne-based AFSL

ELIZA BAVIN  |  WEDNESDAY, 11 DEC 2019
ASIC has suspended the AFSL of Melbourne-based financial services provider Australian Golden Securities until May 2020. ASIC said the licence has been suspended over concerns the company is not meeting its obligations as an AFS licensee. The regulator ...

ASIC takes action against former AMP adviser

HARRISON WORLEY  |  THURSDAY, 5 DEC 2019
... operated the unregistered managed investment scheme MyWealth Manager without holding an Australian Financial Services licence. According to ASIC, Mohammed operated the scheme from February 2017, raising around $7 million from more than 50 investors targeted ...