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Showing 141 - 150 of 1084 results for "AFS"

ASIC bans financial adviser for five years

ANDREW MCKEAN  |  FRIDAY, 20 MAY 2022
... behalf of clients and used managed discretionary accounts. However, Guan nor his company held an Australian financial services (AFS) licence. For part of that period, Guan was an authorised representative of an AFS licensee but his authorisation didn't ...

ASIC outlines cybersecurity expectations

JAMIE WILLIAMSON  |  FRIDAY, 13 MAY 2022
... specific requirements for individual licence holders. We do, however, expect licensees to address cyber risk as part of their AFS licence obligations, including risk management," the regulator said. Failure to comply with such expectations could result ...

Breach reporting regime a distraction: Report

JAMIE WILLIAMSON  |  TUESDAY, 3 MAY 2022
A survey of compliance professionals has found 67% believe ASIC's breach reporting rules distract from other issues and the greatest proportion of reports filed relate to financial advice failures. A report from CoreData, Lawcadia and Gadens looks ...

NAB evades AUSTRAC fine for non-compliance

ANDREW MCKEAN  |  MONDAY, 2 MAY 2022
National Australia Bank (NAB) has avoided a civil penalty for issues related to anti-money laundering and counter-terrorism financing (AML-CTF) laws. Unlike the Commonwealth Bank and Westpac which received gargantuan fines for AML-CTF breaches, NAB ...

ASIC suspends Dixon Advisory AFSL

ELIZABETH MCARTHUR  |  TUESDAY, 19 APR 2022
ASIC has suspended the Australian financial services licence of embattled Dixon Advisory & Superannuation Services. The regulator's move follows the appointment of Stephen Graham Longley and Craig David Crosbie as joint administrators to Dixon Advisory ...

3000 advisers left industry last year

ELIZABETH MCARTHUR  |  WEDNESDAY, 13 APR 2022
More than 3000 financial advisers left the industry in the last 12 months, according to Rainmaker's most recent analysis of the ASIC Financial Adviser Register. The number of ASIC-registered financial advisers decreased 15% through the 12 months to ...

Blacktower launches in Australia

JAMIE WILLIAMSON  |  MONDAY, 28 MAR 2022
After flagging its intention to establish a local presence, global firm Blacktower Financial Management Group has launched in Australia. Blacktower first gained its AFSL and publicised its plans for Australian operations in October last year. The Blacktower ...

New hire salaries skyrocket: Recruiter

JAMIE WILLIAMSON  |  THURSDAY, 24 MAR 2022
About 77% of Australian employers intend to increase starting salaries for new hires by 10% - but financial services institutions are offering up to 30% more to get candidates over the line. Latest insights from Robert Half show larger organisations ...

Midwinter scores AIA mandate

CHLOE WALKER  |  MONDAY, 21 MAR 2022
Midwinter's financial advice software has been chosen to underpin AIA's recently established advice business. The Sydney-based financial advice software company will support all aspects of AIA's Financial Wellbeing business, enabling efficient advice ...

ASIC issues warning to finfluencers

JAMIE WILLIAMSON  |  MONDAY, 21 MAR 2022
... extent of an influencer's involvement in making the transaction happen. "You promote a link for your followers to access an AFS licensee's trading platform to trade financial products. It's a unique link that can't be accessed anywhere ...