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Showing 141 - 150 of 198 results for "AFS license"

PMIIG licence cancelled

MARK SMITH  |  FRIDAY, 5 AUG 2016
ASIC has cancelled the Australian financial services licence of Pacific Millennium International Investment Group (PMIIG), with effect on 28 July, after it breached its obligations. PMIIG was authorised under its AFSL to provide general financial advice ...

Lack of resources impacting ASIC

KERRIE SYDEE  |  WEDNESDAY, 1 JUN 2016
... assessment at the end of the relevant period. Of the four AFS licence applications refused, three related to a new AFS license and one to a licence variation. ASIC noted the reason for refusal was due to the applicants providing "false or misleading ...

ASIC makes two permanent bans

KERRIE SYDEE  |  FRIDAY, 13 MAY 2016
ASIC has permanently banned a former AFS licensee employee and former chairman of collapsed lender Wickham Securities and founder of Sherwin Financial Planners (in liquidation), from providing financial services. Former AFS licensee employee Nicolai ...

Limited AFSLs like "part-time surgeons"

ALEX BURKE  |  THURSDAY, 14 JAN 2016
Accountants with limited Australian financial services licences are like "part-time surgeons," according to John Birt, principal of advice M&A broker Radar Results. Birt branded limited AFS licenses "dangerous" and argued that in order for accountants ...

ASIC financial services enforcements down 10%

ALEX BURKE  |  THURSDAY, 6 AUG 2015
ASIC's actions against the financial services industry have decreased by 10% in the first half of 2015, from 90 in the previous six months to 81. Referencing the compensation programs underway at Macquarie and CBA, ASIC noted in its half-yearly enforcement ...

ASIC bans incompetent adviser

MARK SMITH  |  THURSDAY, 30 APR 2015
ASIC has banned a Sydney-based adviser for three years for failing to keep records. The regulator said Lionsgate Financial Group adviser Atish Prasa, from Westmead, was not adequately trained or competent to provide a financial service. He also broke ...

ASIC imposes conditions on Guardian Advice

STAFF WRITER  |  WEDNESDAY, 7 JAN 2015
The Australian Securities and Investments Commission (ASIC) has imposed conditions on the licence of Suncorp-owned Guardian Advice following a surveillance which uncovered deficiencies in the advice it provided to retail clients. ASIC said the company ...

Government clarifies adviser register funding

LAURA MILLAN  |  MONDAY, 27 OCT 2014
The government's public register of financial advisers will raise $5 million over the next four years by increasing the Australian Financial Services (AFS) licensee annual lodgement fee with the Australian Securities and Investments Commission (ASIC). ...

Funding for the government's adviser register unclear

LAURA MILLAN  |  FRIDAY, 24 OCT 2014
How the public register of financial advisers will be funded remains unclear, with the government saying that the money will come via a $5 hike in the annual lodgement fee for Australian Financial Services (AFS) licensees. A statement from Minister ...

ASIC demands last resort compensation scheme

LAURA MILLAN  |  MONDAY, 20 OCT 2014
The Australian Securities and Investments Commission (ASIC) has demanded the introduction of a last resort compensation scheme that would provide compensation to victims of failed investments and bad financial advice "where all the other options have ...