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Showing 171 - 180 of 600 results for "Authorised Representative"

Former adviser pleads guilty over million-dollar super theft

ANNABELLE DICKSON  |  THURSDAY, 22 APR 2021
... for his role in an illegal retail superannuation scheme. ASIC alleges that Saad, while working as an authorised representative of Apogee Financial Planning, illegally obtained funds from client super accounts. As such, Saad pleaded guilty to one count ...

Former Aon Hewitt adviser banned

ELIZABETH MCARTHUR  |  TUESDAY, 20 APR 2021
ASIC has banned a former authorised representative of Aon Hewitt from providing financial services for four years. Andrew Hills has been banned following ASIC surveillance. He was an authorised representative of Aon Hewitt from February 2009 to December ...

Time running out for claims licences

ELIZABETH MCARTHUR  |  FRIDAY, 9 APR 2021
... Corporations Act 2001 and persons who provided these services were not required to hold an AFSL or be an authorised representative. This exclusion has now been removed. Treasury is still consulting on regulation of insurance claimant intermediaries ...

ASIC releases fee consent instrument

ELIZABETH MCARTHUR  |  THURSDAY, 25 MAR 2021
ASIC has released three legislative instruments to regulate advice fee consents and lack of independence disclosures, as part of the government's response to the Royal Commission. The first of the three sets the requirements that written consent from ...

Banks should pay advice exit levy: TAA

ANNABELLE DICKSON  |  THURSDAY, 18 MAR 2021
... pay $3926 while a retail advice licensee will be charged $1500 per licence and an additional $2426 per authorised representative. TAA is pushing for the government to impose an exit fee of $7400 per adviser for banks and institutions that are getting ...

Trading platform slapped with licence conditions

KARREN VERGARA  |  MONDAY, 15 MAR 2021
A trading platform was slapped with additional conditions from ASIC for several compliance failures. ASIC is doubtful if retail OTC derivative issuer AxiCorp Financial Services has the appropriate procedures and internal controls to meet regulatory ...

Former AMP adviser in enforceable undertaking

ELIZABETH MCARTHUR  |  MONDAY, 15 MAR 2021
... Thorne took deliberate steps to avoid compliance with the court enforceable undertaking. Thorne was an authorised representative of SMSF Advice, a wholly owned subsidiary of AMP, when she allegedly received referrals in relation to establishing SMSFs ...

ASIC bans adviser over dodgy super consolidation

ELIZABETH MCARTHUR  |  MONDAY, 15 MAR 2021
... superannuation for a fee. Nizi Bhandari has been banned from providing financial services permanently. He was an authorised representative of The Australian Dealer Group, which he was also the sole director, responsible manager, and key person for. ASIC ...

Former adviser charged over fabricated information

JAMIE WILLIAMSON  |  FRIDAY, 5 MAR 2021
... 2018. During that time, he was an executive business financial adviser at Westpac before becoming an authorised representative of Fortnum Private Wealth and finally an authorised representative of Libertas Financial Planning. Nesseim appeared before ...

Adviser levy to increase by 160%

ELIZABETH MCARTHUR  |  FRIDAY, 5 MAR 2021
... outraged. The total cost levied by ASIC is now $1500 per retail advice licence, plus an additional $2426 per authorised representative under the licence. A sole practitioner would now have to pay $3926. The cost was previously $1500 per retail licence ...