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Showing 221 - 230 of 1904 results for "licensee"

ASIC alerts licensees to experienced pathway deadlines

ANDREW MCKEAN  |  WEDNESDAY, 26 JUN 2024
ASIC has issued a reminder to the Australian Financial Services (AFS) licensees regarding the upcoming notification obligations related to the new experienced provider pathway. Starting from next week, AFS licensees must notify ASIC by lodging a notice ...

ASIC calls out licensees: 'We will take action'

ELIZA BAVIN  |  THURSDAY, 20 JUN 2024
Australian Securities and Investments Commission (ASIC) commissioner Alan Kirkland issued a blunt warning to licensees not meeting their obligations. Speaking at an industry event, Kirkland said the regulator has spent two years warning licensees to ...

Genium scores consultancy mandate

KARREN VERGARA  |  WEDNESDAY, 19 JUN 2024
... Wealth, said "we look forward to developing a trusted partnership with Genium." "We know Chris [Lioutas] well through our licensee Futuro (where Genium is the existing independent external consultant) and felt Genium was a perfect fit for us as we continue ...

AFSLs undertake more reviews, lack risk documentation

KARREN VERGARA  |  TUESDAY, 18 JUN 2024
... licensees do not commission any external reviews of their business operations. "The law is not prescriptive in how often a licensee should be reviewing its operations and there is no requirement to have an external review," Holley Nethercote managing ...

Will ASIC use AI for advice compliance monitoring?

ANDREW MCKEAN  |  MONDAY, 17 JUN 2024
The rapid expansion of artificial intelligence (AI) applications in the financial advice industry has led to a prediction that ASIC could soon incorporate AI into its compliance and audit checks of advisers. Financial technology firm Padua envisions ...

Super Members Council renews calls for anti-hawking extension

JAMIE WILLIAMSON  |  THURSDAY, 13 JUN 2024
The Super Members Council (SMC) has revived its predecessor's calls to extend anti-hawking legislation, slamming a sub-set of financial advisers using social media posts and cold calling to drum up business. Prior to its merger, the Australian Institute ...

EQT updates on Australian Executor Trustees acquisition

ELIZA BAVIN  |  THURSDAY, 6 JUN 2024
... with SuperConcepts the new administrator for the funds. EQT said it remains as the trustee for the funds through its RSE Licensee held by subsidiary Equity Trustees Superannuation Limited (ETSL). In addition, EQT said the exit of the platform business ...

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 ...

Clime to offload Madison Financial Group

JAMIE WILLIAMSON  |  MONDAY, 27 MAY 2024
... funds management and private wealth businesses and is due to complete by June end. Infocus will pay $2 million for the licensee and platform, using a three-year convertible note with 8% per annum coupon payable half yearly. Upon conversion, Clime can ...

Former licensee chief takes new role

JAMIE WILLIAMSON  |  FRIDAY, 24 MAY 2024
Helen Blackford, formerly chief executive of Insignia Financial's licensing and professional services businesses, will now lead Nestworth Financial Strategists. Blackford has been appointed chief executive of the group, which is backed by AZ NGA. ...