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Showing 161 - 170 of 952 results for "AFSL"

AFSLs can lose licence on CSLR intervention

KARREN VERGARA  |  WEDNESDAY, 7 AUG 2024
... payment of compensation, while the PII "operates in the background". "We don't have visibility over PII. So, it's the AFSL that is responsible. Having said that, there are circumstances where the PII won't pay for various reasons, and we ...

Court rejects former fund manager's appeal

KARREN VERGARA  |  WEDNESDAY, 31 JUL 2024
... fraud under s408c of the Queensland Criminal Code and that he operated a financial services business without as AFS licence (AFSL). On 10 August 2021, his legal representatives filed an application seeking orders that the pleas of guilty be set aside. ...

Build Your Wealth adviser cops ban

KARREN VERGARA  |  FRIDAY, 26 JUL 2024
... Storehouse - the investment manager of the Storehouse Residential Trust and associated entities. Build Your Wealth's AFSL operated from September 2020 to December 2023. Luff also ran Active & Ethical Financial Solutions trading as Vivid Advisory ...

Advisers shun major institutions, 500 exit: Rainmaker

KARREN VERGARA  |  WEDNESDAY, 24 JUL 2024
... advisers. They lost 6.1% of their adviser workforce during the period. In all, 1197 financial advisers registered with a new AFSL in FY24. The five AFSLs attracting the lion's share were Alliance Wealth, Interprac, Shaw and Partners, Synchron Advice ...

ASIC hits Melbourne adviser with travel ban

ELIZA BAVIN  |  TUESDAY, 23 JUL 2024
... (QLD). Wealth Effect Advisory is an Australian financial services licensee of which King is a director. King has held an AFSL since 2007 and was previously licensed under Principal Financial Group and Total Financial Solutions.

ASIC permanently bans Queensland adviser

ELIZA BAVIN  |  THURSDAY, 18 JUL 2024
... services, or manage or control those who do," ASIC said. Abdalla first gained his Australian Financial Services Licence (AFSL) in 2016 but has not held an AFSL since August 2019. According to the ASIC Financial Adviser Register, Abdalla was an authorised ...

Clime chief executive resigns

KARREN VERGARA  |  MONDAY, 15 JUL 2024
... announced last year it will partner with Godfrey Pembroke's Practice Development Group (PDG) to consolidate operational and AFSL services to create a new entity providing back-office services to their financial advice networks - but it fell through. ...

Bitcoin ETF price war: VanEck, Monochrome cut costs

ANDREW MCKEAN  |  FRIDAY, 12 JUL 2024
... investors and said it "proudly stands" as the first and only Bitcoin ETF in Australia licenced under a retail crypto asset AFSL authorisation. "These crypto-centric investor protection rules were put in place to safeguarding investors from the nuances ...

ASIC levy to slug advisers $48.4m

KARREN VERGARA  |  TUESDAY, 9 JUL 2024
... number of relevant providers on the Financial Advisers Register (FAR) at the end of FY24 that amounted to 2766 AFS licensees (AFSL) with 15,371 advisers. Licensees will only pay the levy in proportion to the number of days in the financial year they ...

Stake to operate under its own AFSL

ANDREW MCKEAN  |  MONDAY, 8 JUL 2024
... financial services as an authorised representative of Sanlam Private Wealth and global payments giant Airwallex; both hold an AFSL. But soon, Stake will operate under its own AFSL, offering services as an authorised representative of Stakeshop AFSL - ...