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Showing 221 - 230 of 1315 results for "AFS"

Ascot Securities hit with infringement notice for 'serious failures'

ANDREW MCKEAN  |  THURSDAY, 20 JUN 2024
... notice was issued, Ascot ceased operating as a market participant. It has also surrendered its Australian Financial Services (AFS) licence and notified ASIC of its decision to be wound up. The MDP had reasonable grounds to believe that Ascot had breached ...

AFSLs undertake more reviews, lack risk documentation

KARREN VERGARA  |  TUESDAY, 18 JUN 2024
Most AFS Licensees (AFSLs) are undertaking more reviews of their systems and processes but still lack documentation when it comes to managing risk, according to a new compliance survey. Holley Nethercote's 2024 Compliance Trends Survey reveals AFSLs ...

Fiducian welcomes two practices

KARREN VERGARA  |  FRIDAY, 14 JUN 2024
Fiducian Financial Services has added two practices based in Victoria and the Northern Territory to its network. Gurbinder Gill, the principal and financial adviser of Gill Private Wealth, which operates in Victoria's Burwood, joins the ASX-listed firm. ...

ASIC cancels AFSL of XTrade

ELIZA BAVIN  |  THURSDAY, 6 JUN 2024
... investigation found that between June 2018 and September 2022, XTrade failed to comply with its general obligations as an AFS licensee and engaged in unconscionable conduct. ASIC said XTrade failed to take reasonable steps to ensure that its representatives ...

Block Earner dodges massive fine

KARREN VERGARA  |  WEDNESDAY, 5 JUN 2024
... Block Earner, which invested in cryptocurrency, operated an unregistered managed investment scheme (MIS) without holding an AFS Licence (AFSL) with respect to the "Earner" product, the company was relieved of any liability to pay a fine. "The Court found ...

ASIC suspends AFSL for six managed investment schemes

ELIZA BAVIN  |  THURSDAY, 30 MAY 2024
The Australian Securities and Investments Commission (ASIC) has suspended the Australian financial services licence (AFSL) of Aurora Funds Management until 20 September 2024. Aurora is the responsible entity of six registered managed investment schemes ...

Clime to offload Madison Financial Group

JAMIE WILLIAMSON  |  MONDAY, 27 MAY 2024
Clime Investment Management will sell Madison Financial Group and managed accounts platform WealthPortal to Infocus for $2 million. The sale is part of Clime's strategic decision to focus on its funds management and private wealth businesses and ...

Former Life Plan FP adviser cops ban

KARREN VERGARA  |  FRIDAY, 24 MAY 2024
... to provide advice that was appropriate to clients, did not prioritise the interest of clients above his own or that of his AFS Licensee. Nabi also gave clients a disclosure statement that contained misleading or deceptive statements. ASIC ultimately ...

ASIC issues experienced pathway guidance

KARREN VERGARA  |  WEDNESDAY, 22 MAY 2024
... provide personal advice to retail clients on relevant financial products on that date. INFO 281 also provides guidance to AFS Licensees on their requirements to notify ASIC when they receive a declaration from an experienced provider they authorise. ...

ASIC cancels Everest Asset Management's AFSL

KARREN VERGARA  |  WEDNESDAY, 22 MAY 2024
ASIC has canned the AFS Licence (AFSL) of the asset management firm linked to a massive money-laundering operations. Everest Asset Management, which was licensed to service wholesale clients, will no longer be operational. ASIC said it revoked the AFSL ...