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Showing 251 - 260 of 901 results for "Australian Financial Service"

AFSL to begin independent review

DARREN SNYDER  |  WEDNESDAY, 16 JAN 2019
ASIC ordered that an Australian Financial Services Licensee appoint an independent expert to review the implementation of its compliance framework. The regulator said it is concerned with the adequacy and effectiveness of Kaz Capital's compliance framework ...

AAT upholds AFSL rejection

OSKAH DUNNIN  |  TUESDAY, 15 JAN 2019
ASIC's decision to reject Michael David Watson's Australian Financial Services (AFS) Licence (AFSL) was recently upheld by the Administrative Appeals Tribunal (AAT). Watson had applied for an AFSL license to provide advice for self-managed superannuation ...

AFSL super options under the lens

KANIKA SOOD  |  THURSDAY, 10 JAN 2019
The final report recommends ASIC should have greater oversight of the superannuation products sitting on the approved product lists of AFSLs. The Productivity Commission calls for all Australian Financial Services Licensees (AFSL) to "immediately" be ...

ASIC and Westpac court battle sees mixed outcome

DARREN SNYDER  |  FRIDAY, 4 JAN 2019
A landmark Federal Court judgment has provided greater clarity between general and personal financial advice, ruling in favour of Westpac's position. Yet the bank still managed to breach the Corporations Act. Judge Jacqueline Gleeson said ASIC failed ...

HSBC appoints wealth leader

HARRISON WORLEY  |  THURSDAY, 20 DEC 2018
HSBC appointed a new wealth management lead for Australia, but will not relaunch a traditional wealth business. Former Westpac state manager Jessica Power will lead the global bank's retail banking and wealth management arm in Australia from December ...

Sydney fintech sells for $339m

DARREN SNYDER  |  THURSDAY, 13 DEC 2018
Financial services software giant Temenos is buying customer acquisition and onboarding technology company Avoka for $339 million (US$245 million). Avoka's success story begins in Australia. Temenos chief operating officer and chief financial officer ...

ASIC strips Melbourne firm of AFSL

KANIKA SOOD  |  MONDAY, 3 DEC 2018
The corporate regulator has cancelled the AFSL of a Melbourne-based firm that previously copped a $9 million fine for offering personal loans with the proviso customers implement financial advice from the firm. Financial Circle's Australian financial ...

Vale Paul Costello

DARREN SNYDER  |  TUESDAY, 13 NOV 2018
Paul Costello has been remembered as a "truly inspirational figure" in the Australian financial services community. Costello passed away on November 5, following a long illness. He was a former chief executive at the Superannuation Trust of Australia ...

ASIC and Austplan agree to mutual breakup

DARREN SNYDER  |  FRIDAY, 26 OCT 2018
Austplan will lose its Australian financial services licence in November following ASIC surveillance which found deficiencies in the establishment of self-managed superannuation funds and client referrals. ASIC will cancel Austplan's AFSL effective ...

Temenos scores digital transformation mandate

KARREN VERGARA  |  TUESDAY, 16 OCT 2018
Software firm Temenos scored a deal with an Australian financial services firm with $1.7 billion of funds under management. Uniting Financial Services (UFS) will use Temenos' T24 core banking, analytics, financial crime mitigation and risk and compliance ...