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Showing 151 - 160 of 1272 results for "AFS"

ASIC cancels fewer AFSLs in FY24

KARREN VERGARA  |  FRIDAY, 11 OCT 2024
ASIC cancelled or suspended 239 AFS licences (AFSLs) in the 2024 financial year, which is 9% lower than the prior period. Report 797 Licensing and professional registration activities, which tracks licensing and professional registration activities ...

Global Capital Property to be wound up

KARREN VERGARA  |  TUESDAY, 8 OCT 2024
The Federal Court ordered the wind up of Global Capital Property Fund (GCPF) shortly after director Joel Hewish was banned from working in the industry for 10 years. The hearing on October 3 appointed FTI Consulting as liquidators to GCPF after ASIC ...

ISG ordered to wind up managed investment schemes

ELIZA BAVIN  |  FRIDAY, 4 OCT 2024
The Queensland Supreme Court has ordered the ISG Private Access Fund and the ISG Real Estate Equity Fund be wound up. This comes after ISG and its sole director, Benjamin Godfrey, had applied to appoint receivers to the schemes. ASIC intervened in the ...

ASIC updates and reissues RG 121

ELIZA BAVIN  |  MONDAY, 23 SEP 2024
... last guidance which was issued in June 2013. ASIC said RG 121 has been reissued to remove references to expired or repealed AFS licensing relief, including class relief granted by ASIC to foreign financial services providers and foreign collective investment ...

Powerhouse Ventures to acquire Aliwa

KARREN VERGARA  |  FRIDAY, 20 SEP 2024
Powerhouse Ventures (PVL) is set to take over Aliwa Funds Management in a bid to expand into micro-cap investing. The ASX-listed firm entered a binding agreement with Aliwa for a consideration of $500,000 made upfront in an all-scrip deal at $0.04 per ...

Majority pass adviser exam

KARREN VERGARA  |  FRIDAY, 6 SEP 2024
... financial adviser must pass the exam before starting the third quarter of their Professional Year program and be authorised by an AFS Licensee as a provisional financial adviser. Next year, ASIC flagged that the indicative dates for the exam sittings ...

ASIC cancels AFSL of foreign exchange contracts issuer

ELIZA BAVIN  |  THURSDAY, 5 SEP 2024
... indices, single equities, commodities or crypto assets. ASIC found FXOpen AU's failure to comply with its core obligations as an AFS licensee warranted the cancellation to protect existing and future clients from likely future breaches of its core obligations. ...

ASIC launches new AFSL portal

ELIZA BAVIN  |  THURSDAY, 29 AUG 2024
... financial services licences (AFSL). The new AFSL portal was launched on August 12 for a limited, invitation-only group. All AFS licensees and applicants will transition to the new AFSL portal in the first quarter of 2025. ASIC said the portal aims to ...

Former BBY employee sentenced for 'dishonest conduct'

MATTHEW WAI  |  WEDNESDAY, 21 AUG 2024
... money accounts and contributed to the client money shortfalls on BBY's liquidation on 22 June 2015. ASIC has cancelled BBY's AFS licence in June 2021. Yuen is automatically disqualified from managing corporations for five years from conviction and will ...

ASIC scraps Libertas' AFSL for unpaid compensation

KARREN VERGARA  |  TUESDAY, 20 AUG 2024
In a first for ASIC, Libertas Financial Planning's AFS Licence (AFSL) has been revoked for its failure to pay compensation as ordered by the Compensation Scheme of Last Resort (CSLR). Libertas, which went into liquidation in September 2023, failed ...