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Showing 201 - 210 of 773 results for %22AFSL%22

High Court dismisses Westpac appeal

JAMIE WILLIAMSON  |  WEDNESDAY, 3 FEB 2021
The High Court has affirmed the Federal Court's 2019 decision that two Westpac subsidiaries provided unlicensed personal financial advice. In a decision handed down today, the High Court of Australia dismissed Westpac's appeal, determining the ...

Hume advocates for affordable advice

KARREN VERGARA  |  WEDNESDAY, 20 JAN 2021
The federal government is driving hard the importance of accessing quality, affordable financial advice. Minister for Superannuation, Financial Services and the Digital Economy Jane Hume has flagged the opportunities the Morrison government will take ...

ASIC cancels stockbroker AFSL

ANNABELLE DICKSON  |  WEDNESDAY, 13 JAN 2021
The corporate regulator has cancelled the Australian financial services licence of Halifax Investment Services nearly two years after it was placed into administration. The cancellation took effect from 8 January 2021 and allows the licence to operate ...

AMP adviser numbers shrivel

ELIZABETH MCARTHUR  |  TUESDAY, 12 JAN 2021
... The number of financial advisers licensed by AMP dropped dramatically in 2020, with the institution no longer the largest AFSL in the country by number of advisers. The largest AFSL is now the SMSF Adviser Network which had 839 advisers as at 31 December ...

Missing Caddick's mansion on the line

ELIZABETH MCARTHUR  |  FRIDAY, 18 DEC 2020
... provisional liquidators to her business Maliver. ASIC has concerns that Maliver was providing financial services without an AFSL and that the AFSL of another company may have been used without authorisation. The regulator also alleges that investor funds ...

Almost 3000 advisers gone in 2020

ELIZABETH MCARTHUR  |  FRIDAY, 18 DEC 2020
... joining, according to Rainmaker analysis of the Financial Adviser Register. AMP Financial Planning lost the most advisers of any AFSL this year, with 323 departing between January and December. The Advisers' Association Neil Macdonald said there are ...

ASIC takes action on Union Standard

KARREN VERGARA  |  TUESDAY, 15 DEC 2020
... undertaking to the court to keep specified monetary amounts in a separate bank account. In July, ASIC suspended Union Standard's AFSL and two months later cancelled it. In the same month, BRI Ferrier was appointed as administrator. Liquidators were appointed ...

Director charged with dishonest conduct

ANNABELLE DICKSON  |  FRIDAY, 4 DEC 2020
... the Corporations Act by operating a financial services business without holding an Australian financial services licence (AFSL). The matter is being prosecuted by the Commonwealth Director of Public Prosecutions with each offence carrying a maximum penalty ...

AAT refuses Allegra AFSL

ANNABELLE DICKSON  |  THURSDAY, 3 DEC 2020
... financial services licence to Allegra Financial Services after it was initially rejected by ASIC. Allegra applied to ASIC for an AFSL in 2018 to provide personal financial product advice to retail and wholesale clients, with Lachlan Schonfelder as its ...

Dealer service provider adds former MLC advice firm

KANIKA SOOD  |  WEDNESDAY, 2 DEC 2020
... Financial Planning and Parish Financial. It says three more former bank-aligned practices are set to join by year-end, with their AFSL-applications in progress. "Some institutions have voluntarily closed their dealer group businesses and, at the same ...