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Showing 181 - 190 of 1904 results for "licensee"

Gap exists between licensees' AI use and governance processes: ASIC

MATTHEW WAI  |  TUESDAY, 29 OCT 2024
The regulator's inaugural report on use of artificial intelligence by licensees found instances of artificial intelligence (AI) use that was at risk of being at odds with their regulatory obligations. ASIC reviewed more than 600 AI use cases across ...

Queensland-based financial firm loses AFSL

MATTHEW WAI  |  FRIDAY, 25 OCT 2024
... financial services business has lost its Australian financial service licence (AFSL) following its failure to comply with licensee obligation. ASIC revoked the AFSL of Next Generation Advice (in liquidation) (Next Gen) after the Queensland Supreme Court ...

APRA questioned on super performance test

ELIZA BAVIN  |  FRIDAY, 25 OCT 2024
APRA has been questioned by the House of Representatives around how it monitors superannuation fund performance and whether there should be more focus on fees over returns. Independent MP Allegra Spender questioned APRA deputy chair Margaret Cole on ...

Operational risk reserve targets trimmed for larger funds

JAMIE WILLIAMSON  |  THURSDAY, 24 OCT 2024
Following consultation, APRA has lowered the minimum operational risk financial requirement (ORFR) target amounts for larger superannuation funds. At present, all superannuation funds are expected to keep a minimum of 0.25% of funds under management ...

APRA prioritises supervision of trustee spending

JAMIE WILLIAMSON  |  TUESDAY, 22 OCT 2024
... public interest, APRA said. Where an RSE's spending is to be assessed, APRA said it will issue a notice requiring the licensee to demonstrate how they determined it to be in members' best financial interests. APRA will also review those decision-making ...

AMP's MyNorth sees inflows rise 76%

ELIZA BAVIN  |  THURSDAY, 17 OCT 2024
AMP has given a positive Q3 market update with its platforms business seeing $750 million in net cashflows, up 76%. In addition, MyNorth inflows from independent financial advisers were up 47% for the quarter to $832 million. This has brought platform ...

Expand bolsters SMA offerings amid $10bn milestone

MATTHEW WAI  |  WEDNESDAY, 16 OCT 2024
... Zurich. MLC Expand chief executive Liz McCarthy celebrated the addition of the new offerings and believes they will meet licensee, adviser, and client needs. "With increasing adviser demand for SMAs, we're pleased to be adding another two leading investment ...

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 ...

Netwealth FUA soars, names new chief financial officer

ELIZA BAVIN  |  THURSDAY, 10 OCT 2024
... Australia more than $3.5 trillion will change hands over the next 20 years. It is important to us to enable our adviser and licensee network to engage with these new segments and the next generation of clients in new and innovative ways."

Fund manager splashes $240m on AZ NGA

KARREN VERGARA  |  TUESDAY, 1 OCT 2024
A global investment manager has injected $240 million in AZ Next Generation Advisory (AZ NGA) and will become its largest shareholder. Oaktree Capital Management will help AZ NGA further expand its reach as its growth and succession partner, taking ...