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Showing 181 - 190 of 952 results for "AFSL"

ASIC clamps down on advisers, trustees cold calling

KARREN VERGARA  |  TUESDAY, 7 MAY 2024
... that then leads to a referral to another party for the provision of financial advice to consider whether they require an AFSL. "Even if they do not require a licence, they must ensure any representations they make to consumers are accurate and balanced. ...

ASIC prevails in landmark case against BPS Financial

ANDREW MCKEAN  |  MONDAY, 6 MAY 2024
... a non-cash payment facility that used the 'Qoin' cryptocurrency token, without an Australian Financial Services Licence (AFSL). ASIC chair Joe Longo said this was a significant ruling as the first court outcome against a non-cash payment facility involving ...

ASIC issues warning over scammers using fake AFSLs

ELIZA BAVIN  |  FRIDAY, 3 MAY 2024
... Securities Identification Numbers (ISINs), Australian business numbers (ABNs) and Australian financial services licence (AFSL) numbers, as well as imitating investment maturity dates, coupons and credit ratings. Scammers also use online advertisements ...

ASIC cancels AFSL of JB Markets

ELIZA BAVIN  |  TUESDAY, 23 APR 2024
The Australian Securities and Investments Commission (ASIC) has cancelled the Australian Financial Services Licence (AFSL) of JB Markets effective from 12 April 2024. ASIC said JB Markets failed to comply with the financial requirements of its AFSL ...

Blockchain mining companies sued by ASIC

ANDREW MCKEAN  |  MONDAY, 15 APR 2024
... of sections 911A of the Corporations Act by providing financial services without an Australian Financial Services Licence (AFSL). ASIC is also seeking interim and final injunctions against the NGS companies to prevent them from providing financial services ...

'Licensee for hire' fined $1.25m by court

JAMIE WILLIAMSON  |  THURSDAY, 11 APR 2024
... Lanterne Fund Services, alleging that between March 2019 and October 2021 it failed to comply with six of the obligations of AFSL holders. ASIC's beliefs were backed by the Federal Court, which found Lanterne failed to have adequate risk management systems ...

Court approves wind up of Prospero Markets

JAMIE WILLIAMSON  |  THURSDAY, 11 APR 2024
... following an application by the corporate regulator. ASIC has been investigating Prospero Markets for non-compliance with its AFSL conditions and obligations as an OTC derivatives issuer. The regulator said it has been contacted by Prospero Markets clients ...

Why aged care advice needs tougher regulation

KARREN VERGARA  |  WEDNESDAY, 10 APR 2024
... standpoint. One key issue is whether individuals and entities who provide aged care financial advice need to be authorised under an AFSL and comply with financial advice laws, regulations, and ethical codes. Aged Care Steps director Louise Biti said ...

ASIC bans director who promised 150% returns

ELIZA BAVIN  |  THURSDAY, 21 MAR 2024
... unlicensed. In addition, ASIC said he held out that Panacea Capital was authorised under an Australian Financial Services Licence (AFSL) when this was not the case. ASIC found Creigh provided fact sheets to investors to induce them to invest in the Crypto ...

Third person pleads guilty in Courtenay House Ponzi scheme

ANDREW MCKEAN  |  WEDNESDAY, 20 MAR 2024
... Court will be on April 19. On 21 February 2023, Sipina was charged with carrying out a financial services business without an AFSL. At the time of the offense, the maximum penalty for this crime was a fine of $34,000, a prison sentence of two years ...