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Showing 201 - 210 of 880 results for "Australian Financial Services"

Investment manager criminally charged

ELIZA BAVIN  |  WEDNESDAY, 18 MAR 2020
... provisions in the Corporations Act 2001. "Client money provisions protect the interests of clients of Australian financial services (AFS) licensees by separating client money from money belonging to licensees," ASIC said. "Breaching client money provisions ...

Foreign fund managers granted licensing relief

HARRISON WORLEY  |  WEDNESDAY, 11 MAR 2020
Overseas fund managers are set to be exempt from requiring an Australian financial services licence for the purposes of convincing professional investors to become a client. Under ASIC's newly released foreign financial services provider regulatory ...

Latest data reveals super admin problem

ELIZA BAVIN  |  TUESDAY, 10 MAR 2020
... received and how they have responded to those complaints," Untersteiner said. "Rebuilding trust in the Australian financial services will be a long journey and one that requires effort across the entire sector. "Transparency is key in this transformation ...

ASIC turns up the heat on enforcement

HARRISON WORLEY  |  THURSDAY, 27 FEB 2020
... manipulation, auditor and liquidator breaches, and breaches of licensing obligations, including Australian financial services license obligations. Additionally, ASIC said it had completed on-site reviews at each of the aforementioned institutions, with ...

Franklin Templeton veteran readies two funds

KANIKA SOOD  |  MONDAY, 13 JAN 2020
... in July 2018, a few months after leaving Warakirri after eight and a half years and obtaining the Australian financial services licence for his new firm. Holowesko is currently the firm's only client. It is still working through the performance fee ...

ASIC drags NAB to court for fees-for-no-service

HARRISON WORLEY  |  TUESDAY, 17 DEC 2019
... failures. Additionally, the regulator believes NAB contravened its overarching obligations as an Australian Financial Services licence holder to "act efficiently, honestly and fairly". ASIC's case claims NAB engaged in "unconscionable conduct" from ...

ASIC launches action against AFSL, director

ELIZA BAVIN  |  WEDNESDAY, 11 DEC 2019
... of the Sterling Income Trust. The regulator said the action is against Theta Asset Management, an Australian financial services licensee and responsible entity for the trust, and Theta director Robert Patrick Marie. "ASIC alleges that Theta and Mr Marie ...

ASIC takes action against former AMP adviser

HARRISON WORLEY  |  THURSDAY, 5 DEC 2019
... and others operated the unregistered managed investment scheme MyWealth Manager without holding an Australian Financial Services licence. According to ASIC, Mohammed operated the scheme from February 2017, raising around $7 million from more than 50 ...

AFSLs show widespread non-compliance: ASIC

ELIZA BAVIN, JAMIE WILLIAMSON  |  THURSDAY, 28 NOV 2019
... notice obligations, focused on whether the fee disclosure documents, provided by 30 randomly selected Australian financial services licensees, provided to clients complies with the law. The regulator required the licensees to produce samples of fee disclosure ...

ASIC outlines Code of Ethics expectations

ELIZA BAVIN  |  TUESDAY, 26 NOV 2019
... breaches of the code. "As announced on 14 November 2019, ASIC has taken action to provide certainty to Australian financial services (AFS) licensees that they will not be in breach of the law because their financial advisers were not able to register ...