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Showing 191 - 200 of 1233 results for "licensees"

Treasury to refresh financial adviser exam

KARREN VERGARA  |  MONDAY, 18 DEC 2023
... still required to meet the qualifications standard in order to provide personal financial advice to retail clients. Licensees are still required to meet their existing obligation to ensure their advisers are adequately trained and competent, including ...

APRA flags premium volatility in superannuation group life insurance

ANDREW MCKEAN  |  FRIDAY, 8 DEC 2023
... superannuation, notably premium volatility and data availability. At the end of 2022, APRA conducted a survey involving RSE licensees, life insurers, and reinsurers, assessing industry responses to the sustainability challenges in group life insurance ...

ASIC confirms adviser registration deadline

KARREN VERGARA  |  WEDNESDAY, 29 NOV 2023
... authorised the relevant provider at the relevant time, will be breaking the law, ASIC said. "It is crucial that AFS licensees and Relevant Providers understand their obligations in relation to relevant provider registration." ASIC will also host two ...

On-platform TDPs miss performance test benchmarks, worst on fees: APRA

ANDREW MCKEAN  |  WEDNESDAY, 29 NOV 2023
... based on the 2023 superannuation performance test showed that 56% of member accounts in platform TDPs managed by RSE licensees underperformed their benchmark, with almost a third of these accounts floundering by a margin over 0.5%. For non-platform TDPs ...

Paraplanners unfazed by QAR, AI: Survey

KARREN VERGARA  |  WEDNESDAY, 22 NOV 2023
... common belief is that even if legislation doesn't mandate a client-facing document, certain service-oriented firms/licensees may still require an advice record to be provided to their clients," the report read. When asked about the anticipated impact ...

AFCA tightens wholesale investor remit

KARREN VERGARA  |  FRIDAY, 17 NOV 2023
... than $2.5 million or $250,000, you are a professional investor under Section 761 G (7) (D)," he said. This includes AFS Licensees with over $10 million dollars or the investment amount is at least $500,000 (under section 761G (7)(A)). "You can also be ...

Adviser levy discount amounts to $8m saving

KARREN VERGARA  |  FRIDAY, 10 NOV 2023
... estimates from the Financial Advice Association Australia (FAAA). Based on two legislative instruments dated November 3, licensees will likely pay $2818 per adviser. "When ASIC published their estimates for the 2022-23 year, in June, the total cost recoveries ...

ASIC updates qualified tax relevant provider definition

KARREN VERGARA  |  TUESDAY, 7 NOV 2023
... (financial) advice services for the first time," ASIC said. "It is important to note that it is the responsibility of AFS licensees to ensure that the information recorded on the Financial Advisers Register about their relevant providers is correct." ...

Licensees flout breach reporting regime: ASIC

KARREN VERGARA  |  WEDNESDAY, 1 NOV 2023
ASIC warned it is taking tougher action on licensees as they fail to comply with the reportable situations regime two years on. Of the 16,836 reports ASIC received from financial services and credit licensees in the year to June 2023, 17% took over ...

Piper Alderman investigates second CFD class action

CHLOE WALKER  |  WEDNESDAY, 25 OCT 2023
... recent years, ASIC has also successfully brought proceedings for breach of the Corporations Act against several CFD licensees operating in Australia, with penalties in excess of $75 million. In May the regulator issued stop orders against Saxo Capital ...