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Showing 241 - 250 of 1904 results for "licensee"

Adviser fakes exam certificate, cops ASIC ban

KARREN VERGARA  |  FRIDAY, 26 APR 2024
... and continued to provide advice without the proper qualifications. Adele Baaini, while working as a representative for licensee AAN Wealth Management, has been banned from entering financial services. ASIC's investigation found that she rendered ...

FSC expands financial advice membership

KARREN VERGARA  |  WEDNESDAY, 24 APR 2024
The Financial Services Council (FSC) is expanding its remit into the financial advice sector by adding six licensees to its network of members. Count, Fortnum Private Wealth, Infocus, Otivo, Rhombus Advisory, and WT Financial Group have joined FSC's ...

ASIC cancels AFSL of JB Markets

ELIZA BAVIN  |  TUESDAY, 23 APR 2024
... licence and to carry out supervisory arrangements. Under the Corporations Act, ASIC may suspend or cancel an AFSL if a licensee fails to meet its general obligations under section 912A including financial requirements and adequate resourcing. ASIC said ...

Macquarie Bank to pay $10m for unauthorised fee transactions

ELIZA BAVIN  |  MONDAY, 22 APR 2024
The Federal Court has ordered Macquarie Bank to pay a penalty of $10 million for failing to have effective controls to prevent and detect unauthorised fee transactions conducted by third parties, such as financial advisers, on customer cash management ...

Adam Blumenthal ordered to pay $850k

ELIZA BAVIN  |  THURSDAY, 18 APR 2024
... comply with its compliance policies and causing it to breach its obligations as an Australian financial services (AFS) licensee which jeopardised its interests. Blumenthal also breached his duties as a director of Creso by paying Tyson Scholz - who was ...

Netwealth's share price rises following strong inflows

ANDREW MCKEAN  |  FRIDAY, 12 APR 2024
... during the quarter, a 3.7% rise from the previous quarter. Additionally, it saw "strong momentum" in new adviser and licensee relationships, with a new business pipeline and strong conversion rates across all segments. The group also flagged that founder ...

'Licensee for hire' fined $1.25m by court

JAMIE WILLIAMSON  |  THURSDAY, 11 APR 2024
... compliance staff or risk management processes. In July 2022, ASIC issued civil penalty proceedings against wholesale licensee Lanterne Fund Services, alleging that between March 2019 and October 2021 it failed to comply with six of the obligations of ...

Super advice fee deductions compound red tape: JAWG

KARREN VERGARA  |  MONDAY, 8 APR 2024
The Joint Associations Working Group (JAWG) says new laws that enable superannuation funds to deduct financial advice fees will have the opposite effect of reducing red tape and can make advice even more unaffordable. Treasury Laws Amendment (Delivering ...

Count brings advice firm to network

KARREN VERGARA  |  WEDNESDAY, 3 APR 2024
... South Australia, will benefit greatly from their appointment to our network." This year, former AMP Financial Planning licensee Tailored Lifetime Solutions joined Count. Count also acquired Solutions Centric, an Australian company that provides offshore ...

Mercer Super recruits growth lead

ELIZABETH FRY  |  TUESDAY, 2 APR 2024
A senior J.P. Morgan sales executive and relationship manager has joined Mercer Super Trust as its growth lead. In the new role, Stuart Raynes will support the super fund's growing corporate super and clients business. "Stuart's appointment ...